BEC 111: Introduction to Microeconomics Course Outline

  

Date Posted: 2/16/2018 12:46:34 AM

Posted By: TonyLL  Membership Level: Bronze  Total Points: 77

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COURSE CONTENTS

1.INTRODUCTION

-Economics, definition and scope
-Microeconomics and Macroeconomics

-Nature of Economic Systems

-Positive and Normative Economics


2.DEMAND AND SUPPLY

-Determinants of Demand and Supply

-Elasticity of Demand and supply

3.CONSUMER THEORY

-Utility Theory

-Indifference Curve

-Consumer Surplus


4.THE THEORY OF THE FIRM

-Factors Of Production

-Productions Function

-Cost Functions

-Economies Of Scale


5.MARKET STRUCTURES

-Perfect Competition

-Monopoly

-Oligopoly

-Duopoly

-Monopsony


6.THEORY OF DISTRIBUTION AND FACTOR PRICING

-Factor Prices

-Demand for Factors

-Supply of Factors

-Factor Mobility

-Transfer Earning and Economic Rent

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