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Principles of Microeconomics

Course Description:

 

This course provides an introduction to the economic way of thinking and to the economist's view of the world and introduces economic analysis of individual, business, and industry choices in the market economy. Topics include the study of individual consumers, groups of consumers, and firms. The course will focus on how individuals make decisions that affect their income and wealth, how firms make decisions that affect profits and production, and how government regulation affects individuals and firms. This course attempts to develop a student's ability to think about the consumers and producers behaviors and give detailed knowledge of microeconomics. Students learn both a specific set of analytical tools and how to apply them to current policy issues .

 

Topics to be Covered
List of Topics

No. of

Weeks

Contact hours
Introduction: Definitions-Economic Theory and Economic Model- Positive economics and Normative economics. 13
Demand and supply26

Interaction between supply and demand: Practical applications

(Pricing, taxation, subsidy, other interventions in the markets.

13
Elasticity.26
Consumer Behavior.39
Production theory.13
Costs of Production in the short run.13
Perfect competition, characteristics and equilibrium graphically in the case of the profit and loss.13
Perfect monopoly, characteristics and equilibrium graphically in the case of the profit and loss.13
Monopolistic competition, characteristics and equilibrium graphically and the characteristics of oligopoly.13
Production factor market.13

 

 

 Schedule of Assessment Tasks for Students During the Semester
 Assessment task (i.e., essay, test, quizzes, group project, examination, speech, oral presentation, etc.)Week DueProportion of Total Assessment
1In class Quizzes Week 5,1210%
2Group ProjectOngoing, End of Semester10%
3In class activitiesOngoing, End of Semester5%
4Individual assignment Ongoing, End of Semester15%
5MidtermWeek 920%
6Final Exam End of Semester40%

 

List Required Textbooks

 

  1. Hubbard, O'Brien, Eid, and El Anshasy (2011). Economics. Arab World Edition. Pearson, ISBN: 9781408255308.

     
  2. N. G. Mankiw and M. H. Rashwan (2015). Principles of Economics, Second Arab World Edition. Cengage Learning. ISBN 978-1-4737-0484-8.

 

- N. G. Mankiw (2015). Principles of Microeconomics. 7th Edition, Cengage 3. ISBN-10: 128516590X | ISBN-13: 9781285165905 © 2015​​