COURSE INFORMATION Course Title: MICROECONOMICS

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 205	A	3	3	0	0	3	5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Naqeeb Ur Rehman , 9:00 TO 5:00PM
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Classroom and Meeting Time:	11:30am
Course Description:	The aim of this course is to examine the analytical framework used in microeconomics. New concepts are illustrated with entertaining and informative examples, both verbal and numerical. In addition, several purely ‘micro’ topics are illustrated with ‘macro’ applications. On the successful completion of this unit, students should have a clear understanding of the basic principles of microeconomics and with the aid of simple mathematical tools, be able to solve specific problems and answer questions appropriate to this level. Topics include supply, demand and equilibrium, the behavior of consumers, the behavior of firms, production and costs, competition welfare economics, knowledge information, monopoly, market power, collusion and oligopoly, the theory of games, external costs and benefits, common property and public goods, the demands for factors of production, the market for labor, risk and uncertainty.
Course Objectives:	This course is design to familiar students with microeconomics principles. At the end of the course students would be able to analyze the demand and supply hypotheses. They would also get knowledge related to theory of firm behavior using perfect competitive and monopolistic competitive markets.

COURSE OUTLINE

Week	Topics
1	Major economic issues
2	Theory of demand and supply
3	Shifts in the demand supply curves
4	Market equilbrium
5	Elasticity of demand for linear curve
6	Elasticity of demand for non-linear curves
7	Indifference curve and its different shapes
8	Consumer equilibrium using budget line
9	Costs in the short run
10	law of diminishing return
11	Perfect competition
12	Monopoly
13	Monopolistic competition
14	Review

Prerequisite(s):	Basic mathematics,
Textbook:	Economics, Lipsey and Chrystal, 13th Edition
Other References:	NA
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Students will understand the basic micro economics hypothesis using demand and supply curve
2	They will learn to calculate the price elasticity of demand for linear and non linear curves
3	They will learn about the indifference curve
4	Students will be able to analyze the shifts in market equilibrium, what factors cause shifts
5	Students will be able to calculate the short run costs of the firm
6	They will learn about the law of diminishing return using game in the classroom
7	Students will learn the perfect competition
8	They will learn about the monopoly behavior of a firm
9	How monopolistic competition influence the firm behavior in terms of achieving profit maximization goal?
10	At the end of the course, they will have sound knowledge of microeconomics using numerous hypotheses

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Business Administration (3 years) Program
1	Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	5
2	Apply key theories to practical problems within the global business context.	5
3	Demonstrate ethical, social, and legal responsibilities in organizations.	5
4	Develop an open minded-attitude through continuous learning and team-work.	5
5	Use technology to enable business growth and sustainability.	5
6	Analyze data to make effective decisions.	5

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	35
Quiz	2	10
Final Exam	1	40
Attendance		5
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	2	32
Mid-terms	1	10	10
Assignments			0
Final examination	1	15	15
Other	2	10	20
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5