BUSINESS ADMINISTRATION (ENGLISH) PROGRAMME COURSE DESCRIPTION
Name of the Course Unit	Code	Year	Semester	In-Class Hours (T+P)	Credit	ECTS Credit
MICROECONOMICS	ECO201	2	3	3+0	3.0	6.0

No	Key Learning Outcomes of the Course Unit On successful completion of this course unit, students/learners will or will be able to:
1	Student who has completed Microeconomics should be able to think critically and be able to apply economic reasoning in making personal and business decisions and in analyzing public policies.
2	Students should be able to interpret graphs, charts and other forms of data to become economically literate.
3	Explain the cost of choices and trade-offs Illustrate society’s trade-offs by using a production possibilities frontier (or curve) Explain the assumption of rationality by individuals and firms Define marginal analysis Differentiate between positive and normative statements
4	Explain the determinants of demand Explain the determinants of supply Explain and graphically illustrate market equilibrium, surplus and shortage
5	Explain the price elasticity of demand and price elasticity of supply, and compute both using the midpoint method
6	Define and calculate consumer, producer and total surplus; graphically illustrate consumer, producer and total surplus
7	Define the concept of utility and satisfaction.Calculate and graph the firm’s fixed, variable, average, marginal and total costs; calculate and graph the firm’s average, marginal and total revenues; determine the profit maximizing output level and price using graphs and demand schedules; is able to calculate and graphically illustrate where marginal revenue equals marginal costs
8	Define the term “production” and explain what a production function is; define the term “production inputs,” and differentiate between labor, land, capital, entrepreneurship, technology
9	Define the characteristics of Perfect Competition
10	Define the characteristics of a monopoly, Oligopoly and monopolistically competitive industry