School of Business and Economics Program Semester Credit Hours Pre requisites (if any) Resource Person Contact information

SPRING, 2012 3 NIL AFIA MUSHTAQ Afia.mushtaq@umt.edu.pk

Course Description: Microeconomics studies the behavior of specific economic units that make up the economic aggregates. Microeconomics is the subject matter of this course explaining the behavior of specific economic units. The main focus will be on theories of consumption, production, distribution and role of the government. Topics include demand, supply, household behavior and consumer choice, the cost structure of the firms, market structures, market failures and externalities, economic regulations and Good governance. The course will rely heavily on graphical analysis and simple numerical calculations. Learning Objectives: Sr # 1 Course Learning Objectives Link with Program Learning Objectives Apply general concepts of ethical behavior in dealing with stakeholders

It focuses on how various classes of economic units come to terms with the economic problem of scarcity
Students should be able to fully understand the mechanism of demand and supply, decision making and choices of consumers and producers,. to real world situations and gain better


Use critical thinking skills to evaluate information, solve problems, and make sound decisions.

3 1

Conceptualize a complex issue into a

Samuelson P. McGraw-Hill Inc. 2 . Sixteenth Weekly magazine. persuasive statement.A and Nordhaus W. McGraw-Hill (1998 The Economist Gulf and Economist McConnell and Brue. Your behaviour.. Particular emphasis will be given during the presentation sessions. as business executive will contribute to the class participation marks. Classroom Behavior: Positive and constructive class participation will be monitored for each class. Textbooks & Supplies: 1 Mankiw.D. 4 coherent. Magazine …. “Economics Today” Addison Wesley Supplementary Material: Macro Economics by Magazines/ Journals: Economics by Edition. Roger Leroy Miller (1998). “Principles of Micro Economics” Thomson Learning. written or oral microeconomics analysis developed in this course is in the particular context of an economy characterized by the private ownership of property and free markets and which is populated by economic units who seek rationally to maximize their utility Understand the importance of group dynamics in achieving organizational goals and use the skills needed for effective teamwork.understanding of how the economic System works especially in cost and production scenario. The manner in which the question is asked or answered will also be noted.  2. Fourteenth Edition.

even unintentionally. Participants are required to thoroughly study the topic to be discussed in the next session apart from completing and handing over their assignments. Tests and Grading: Quizzes/Class Participation: Quizzes will be taken according to calendar of activities. At the end of the course. Honesty Policy: Academic integrity is a major part of the foundation of any institution of higher learning.see schedule. Participants are expected to achieve high standards in their expressions. to be one’s own either by copying. to fill the gap between desired and actual. purchasing or borrowing such work or failure to give credit for its source. textbook. he shall be disqualified from that examination (UMC Case) and shall be awarded Grade "F" for that course. the participants are required to submit a project. The quizzes are aimed at evaluating the participants’ understanding and clarity of different concepts. The purpose of the project is to enable the participants fully apply the knowledge acquired during the course. expression. will contribute to the class participation marks. Surprise quizzes may also be taken. Late submission of assignments will not be accepted in any case. “Plagiarism” includes all offences in which the work of another person is claimed. You are supposed to have read the text chapters under discussion in advance. graphical representation (if required). IMPORTANT!!!! Mobiles phones & other electronic gadgets (except non-programmable calculators) are strictly prohibited & participants are not allowed to carry these [even if turned off/silent] in the examination room during 2 hours of examination. Quizzes may be either subjective or objective. Questions answered to these text chapters. Assignments will be returned after grading the next week. Plagiarism is not allowed. Assignments/Project: Assignments are evaluated on the basis of the material.Participant Responsibilities: The learning process is based on independent work with texts. and cases supported by lectures and assignments/cases . It will come up with more clear understanding of what is going on in practical 3 . If any participant is found guilty during examination timings [for whatever reason]. and list of references. Some corrective action will be taken if necessary. Plagiarism and cheating are among the most common form of academic dishonesty.

Assessment Mode Quizzes Assignments Project/ Presentation/Viva Case Studies Class Activity Class Participation Mid Term End term Total Marks 10 10 10 10 5 5 20 30 100 4 .

Calendar of Activities Semester Spring 2012 5 .

Consumer Behaviour Class Participation Assignment Assignment 3. This topic helps students to understand the basic concepts. functions and measurement of elasticity in the market. Market Structure Perfect Competition vs. Lecture. # Topics to be covered in the course Learning objective of this topic Link with course learning objectives Teaching method Assessment criteria 1. Problem solving Quiz 2. Problem solving Lecture. To let the students know that what is disequilibrium. To understand the short run and long run behavior of cost.Sr. To sound students skills about the consumer’s attitude in the market and by the help of this how demand curve can be derived. This topic will help students to conceptualize the formation and operations of market forces. To make them understand about the fundamental concept of different market structures and specifically perfectly competitive market MONOPLY Link with objective 1 Link with objective 2 Link with objective 2 Link with objective 2 Link with objective 3 Link with objective 3 Link with objective 4 Lecture Class Discussion Lecture Class Discussion Case Study Lecture Group Discussion Case study. Pure Competition Different Possibilities of SR firm Equilibrium Profit Maximization in the Short-run and long-run Monopoly Short run and Long run Equilibrium under Monopoly Conclusion ( Comparison of both) Imperfect Competition Monopolistic Competition Duopoly Oligopoly Case Study Lecture Group Discussion 6 8. Group Discussions Lecture. 6. Demand and Supply Elasticity assignment 5. An Introduction to Economic Theory This topic is designed to conceptualize the basics of micro economics both theoretically and mathematically. why it is developed and how it can be eradicated This topic gives students an understanding about the returns faced by the firms both in short run and in long run. Demand and Supp 4. Efficiency and Exchange Theory of production and Cost QUIZ Class Participation on case study QUIZ 7. To clear a picture of imperfectly competitive market to the students and also giving them understanding of strategic behavior of the firms Link with objective 4 Case Study Lecture Group Discussion Assignment .

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