Course Information
SemesterCourse Unit CodeCourse Unit TitleT+P+LCreditNumber of ECTS CreditsLast Updated Date
1ECON 101Principles of Microeconomics2+2+03506.11.2023
Course Details
Language of Instruction English
Level of Course Unit Bachelor's Degree
Department / Program BA Program in Economics
Type of Program Formal Education
Type of Course Unit Compulsory
Course Delivery Method Face To Face
Objectives of the Course The course would focus on understanding the main concepts and functioning of the market system as a
mechanism of resource allocation.. For this purpose selected market structures would be studied. The students
would also be exposed to analysis of government policies such as taxes and control on prices to understand their
effect on resource allocation.. The situation of government intervention in the market would also be examined
when Externalities causes market failures. Various market structures would also be studied to understand
conditions of the market equilibrium in the short-run and the long-run.
Course Content The coursework will be structured around the following questions
• What are the determinants of principles of microeconomics?
• How do we describe supply, demand, competition, perfect competition, monopoly etc? What are the determinants of these?
• How are consumer and producer surplus, cost functions, revenues and marginal cost and revenue defined?
• What drives equilibrium prices of goods? What explains an equilibrium price? What are the role of supply, demand for a good and consumer and producer surplus in the economy?
Course Methods and Techniques Face to Face, multimedia
Prerequisites and co-requisities None
Course Coordinator Prof.Dr. Hasan Vergil
Name of Lecturers Dr. Taseer Salahuddin
Assistants None
Work Placement(s) No

Recommended or Required Reading
Resources Microeconomics 8th edition by Gregory Mankiw
Course Notes Microeconomics 8th edition by Gregory Mankiw
Documents Microeconomics 8th edition by Gregory Mankiw
Assignments Microeconomics 8th edition by Gregory Mankiw
Exams Microeconomics 8th edition by Gregory Mankiw

Course Category
Mathematics and Basic Sciences %10
Social Sciences %10
Field %80

Planned Learning Activities and Teaching Methods
Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria
In-Term Studies Quantity Percentage
Mid-terms 1 % 25
Quizzes 2 % 10
Assignment 2 % 20
Attendance 1 % 15
Final examination 1 % 30
Total
7
% 100

 
ECTS Allocated Based on Student Workload
Activities Quantity Duration Total Work Load
Course Duration 14 3 42
Hours for off-the-c.r.stud 14 3 42
Assignments 2 4 8
Mid-terms 2 15 30
Final examination 1 28 28
Total Work Load   Number of ECTS Credits 5 150

 
Course Learning Outcomes: Upon the successful completion of this course, students will be able to:
NoLearning Outcomes
1 A student can define fundamental microeconomics terms like supply, demand for a good, cost and revenue functions, marginal cost and revenue etc
2 A student can solve interactions of these notions and interpret the implications of these for the micro economy
3 A student can explain what competition is
4 A student can make use of different approaches to understand principles of microeconomics
5 A student can analyze the effects of changes in supply and demand, costs, profit maximization, competitive markets and monopolies

 
Weekly Detailed Course Contents
WeekTopicsStudy MaterialsMaterials
1 Preliminaries Chapter 1, 2 in GM Chapter 1, 2 in GM
2 The Basics of Supply and Demand Chapter 4,5 in GM Chapter 4,5 in GM
3 The Basics of Supply and Demand Chapter 4,5 in GM Chapter 4,5 in GM
4 Consumer, Producers and Efficiency of Markets Chapter 7 in GM Chapter 7 in GM
5 Consumer, Producers and Efficiency of Markets Chapter 8, 9 in GM Chapter 8, 9 in GM
6 The Economics of Public Sector Chapter 10,11, 12 in GM Chapter 10,11, 12 in GM
7 The Economics of Public Sector Chapter 10, 11, 12 in GM Chapter 10, 11, 12 in GM
8 Production Chapter 13 in GM Chapter 13 in GM
9 The Cost of Production Chapter 13 in GM Chapter 13 in GM
10 Profit Maximization and Competitive Supply Chapter 14 in GM Chapter 14 in GM
11 The Analysis of Competitive Markets Chapter 14 in GM Chapter 14 in GM
12 Market Power: Monopoly and Monopsony Chapter 15 in GM Chapter 15 in GM
13 Monopolistic Competition Chapter 16 in GM Chapter 16 in GM
14 Oligopoly Chapter 17 in GM Chapter 17 in GM

 
Contribution of Learning Outcomes to Programme Outcomes
P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12
All 5 1 4 5 5 3 5 1 4 5 1 1
C1 4 4 4 1
C2 4 3 2 2 4 4 3
C3 1 2 3 4 3 4
C4 2 2 3 3 2 4 3
C5 5 4 4 4 3 4 4 4 1 1

  Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant