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ECON 1010 Introduction to Microeconomic Principles

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Microeconomics basically studies how rational individual makes choices in the face of scarcity and how markets coordinate these possibilities. Beneath this ECON 1010 Introduction to Microeconomic Principles course unit, the students will study how market works to advance the economic efficiency, and why markets at many times fail. Here, the students will explore about the behavior of consumers and producers in the market, and describe how intervention in the market can lower economic leftover. The above stated course, as well introduce how rational agents respond to incentives. The course module will consider the apt role for government in the economy, the significance of competition in the market, along with the behavior of markets that exchange factors of production such as labor. The main objective throughout the course will be to introduce students about the economic way of thinking.

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