Wa0009.

ECO 1201 : INTRODUCTION TO MICROECONOMICS
PREREQUISITE: NONE
DETAILED COURSE OUTLINE
TRIMESTER:
CREDIT HOURS:
LECTURER’S NAME:
EMAIL:
CONTACT TIME:
COURSE DESCRIPTION
The course provides students with an understanding of introduction to the basic elements of
modern microeconomics and its application in the measurement of microeconomics aspects of
an economy. A particular emphasis is placed on understanding the role of microeconomic
analysis in determining critical variables in analyzing the performance of an economy.
EXPECTED LEARNING OUTCOMES

By the end of this course, students should be able to:
1. Describe the basic concepts of microeconomics.
2. Comprehend the behaviour of economic agents in the markets.
3. Evaluate the effects of government interventions in the markets.
4. Apply basic economic principles to analysis of microeconomic problems.
5. Analyse the consumer and producer behaviour in consumption and production
respectively.
COURSE CONTENT
Week 1 and 2
Topic INTRODUCTION TO ECONOMICS
Sub-topics: • Meaning of economics
• Scope of economics
• Branches of economics
• Economic Methodology
• Concept of scarcity, opportunity cost and production possibility
frontier
• Economic systems
• Concept of consumer sovereignty and its limitations
• Introduction to economics content through case study method.
Teaching and • Discussion of the various economic systems exhibited in the Case
learning activities: Study
Learning resources: • Video clips on economic systems
• Case Studies
Multimedia YouTube Clips
resources: • https://www.youtube.com/watch?v=sHkviUk_47k
Week 3, 4 and 5
Topic: THE PRICE THEORY
Sub-topics: • Theory of Demand
• Theory of Supply
Page 1 of 4
• Market Equilibrium
• Elasticities
• Application of price theory
• Analysing demand and supply through case studies method
Teaching and • Discussion of various factors of demand and supply exhibited in the
learning activities: case study
Learning resources: • Video clips on demand and supply
Multimedia https://www.youtube.com/watch?v=op70yS_7du8
resources:
Week 6 COMPREHENSIVE CAT
Week 7 and 8
Topic: CONSUMER THEORY
Sub-topics: • Introduction to consumer behaviour
• Cardinalist theory
• Derivation of the demand curve for the consumer
• Ordinal theory (Indifference curve)
• Equilibrium condition for the consumer (Graphical and
mathematical derivations)
• Income and substitution effects
• Consumer surplus
• Applications of indifference curve
Teaching and
learning activities: • Group discussions on cardinal and ordinal approaches
Learning resources: • Video clip on consumer behaviour
Multimedia https://www.youtube.com/watch?v=60eRK7AwgwM
resources:
Week 9, 10 and 11
Topic: THEORY OF THE FIRM
Sub-topics: • Definition of concepts
• Approaches to analysis of the theory of the firm
• The law of diminishing returns
• Concept of returns to scale
• Equilibrium condition of the firm: Graphical and mathematical
• Traditional theory of costs
Teaching and
learning activities: • Discussions groups
Learning resources: • Video clip on theory of the firm
Multimedia https://www.youtube.com/watch?v=dLiH3EyGDuY
resources:
Week 12-13
Topic: MARKET STRUCTURES
Sub-topics: • Perfect Competition
• Monopoly
• Monopolistic competition
• Oligopoly
Teaching and
learning activities: Discussion groups
Page 2 of 4
Learning resources: • Video clip on theory of the firm
• Monopoly Case Study
Multimedia • https://www.youtube.com/watch?v=frHyR9FiKt4
resources:
Week 14-15 END OF TRIMESTER EXAMINATIONS
TEACHING METHODOLOGY
The teaching methodology for this course is designed to facilitate and promote participatory
learning through:
Class-based activities Skills
• Website virtual tours
• Directed class discussions
• Scenario analysis with cases
• Group exercises
• Guest speaker sessions
Out-of-class activities
• Reflecting on video content
• Reading assignments
• Group work.
• Reflection papers
INSTRUCTIONAL MATERIALS/EQUIPMENT
Microsoft/Zoom whiteboard, video clips and games, lecture notes, visual aids, PowerPoint
presentations, case studies, and flipcharts.
SUBMISSION OF ASSIGNMENTS
Deadlines for submission of assignments should be strictly adhered to and failure to submit all
assignments will be treated as incomplete coursework. The consequence is a failure grade, and
one will be required to repeat the unit when next offered. To avoid this unfortunate occurrence,
please submit your work in time. Learners who miss deadlines for assignments, class exercises,
or CAT for cogent reasons should communicate to the lecturer as soon as possible.
CLASS ATTENDANCE
You are required to attend all classes and to report to class on time. If for some good reason
you are unable to attend class, do inform the lecturer well in advance. Those who report to class
more than 30 minutes late will be locked out of the class. You are required to attend at least
75% of all lessons, failure to meet this threshold may lead to your disqualification from the
class and you will be required to repeat the course when next offered. You must sign the
attendance register in the class or if on remote learning, sign in using your official name and
registration number.
ASSESSMENT
To encourage learners’ active participation in class and engagement in learning formative
assessment will be emphasized over summative assessment. Learners will be expected to read
a lot on their own to be able to understand, internalize, apply, and communicate effectively. As
such, learners will participate in online website reviews, group discussions on digital marketing
approaches, and summaries of readings which will be graded to evaluate the achievement of
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the course learning outcomes. There will be a balance between formative assessments tasks
than summative assessment ones, which will be done through sit-in written examinations and
continuous assessment tests at the end of the course. This course will be assessed as follows:
Week Activity Type Weight %

2 Group assignment Group 5
5 Group assignment Group 5
6 Individual assignment Individual 10
10 CAT 1 Individual 15
12 CAT 2 Individual 15
13 Final Examination 50
Total 100
REFERENCES
Core reading materials
Parkin, Michael. (2019). Microeconomics. Harlow, England Pearson.
Colander, David C. (2019). Microeconomics. [S.I.]: McGraw-Hill education. McGraw-Hill

education.
Additional reading materials
Nicholson, W., & Snyder, C. (2019). Microeconomic theory: Basic principles and extensions.
Delhi: Cengage.
Mudida, Robert. (2003). Modern Economics. Focus Books
Wang, S. (2019). Microeconomic Theory. Singapore: Springer.
Nicholson, W., & Snyder, C. (2016). Microeconomic Theory. Boston, MA: Cengage.
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ECO 1201 : INTRODUCTION TO MICROECONOMICS

EXPECTED LEARNING OUTCOMES

Week Activity Type Weight %

Core reading materials

Parkin, Michael. (2019). Microeconomics. Harlow, England Pearson.

Colander, David C. (2019). Microeconomics. [S.I.]: McGraw-Hill education. McGraw-Hill

Additional reading materials

Mudida, Robert. (2003). Modern Economics. Focus Books

Wang, S. (2019). Microeconomic Theory. Singapore: Springer.

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