Principles of MicroeconomicsModule Details

The rationale behind every module is to offer the student all possible knowledge in each module of the course, in order to be able to deepen their understanding and render them capable of practically applying it. Microeconomics is vital in enabling the student to develop an economic way of thinking and acquaint him/her with graphical analysis. Important concepts, such as demand and supply and decision-making process regarding the optimal level of output are introduced, while the student learns to identify and distinguish among different marketstructures.

After completion of the course students are expected to be able to:
• Apply graphical analysis on economic issues
• Identify how equilibrium price is determined in a free market through the interaction of supply and demand
• Demonstrate the concepts of demand and supply analysis relevant to the business environment
• Analyze market examples and applicationsto simulate realistic business experience
• Discussthe dynamics of income distribution and resource allocation
• Explain the importance of the regulatory role of the government