MICROECONOMICS

Course Description

This course involves introduction to economics with the question; What is economics? Micro and Macro Economics, Needs, wants, preferences, scarcity and consumer preferences, Production Possibilities Frontier, Opportunity Cost, Budget Line, Cost-Benefit Principle, Explicit and Implicit costs, Elasticity -Inferior goods, normal goods, luxury goods, complement goods and substitute goods, Demand Curve and Supply Curve, Excess demand and supply, Demand and Supply functions, Equilibrium price and quantity by using functions, Types of taxes and their effects on demand and supply,Types of Costs; Fixed costs and variable costs. Calculating total revenue and total costs, Calculating profit and loss, Calculating Break even quantity, Drawing Break Even chart, Types of Depreciation and calculating depreciation all will be focused on.

MICROECONOMICS

Evaluation Tools (Active Term)

Course outcomes

1. 01 Learning and applying the system of ideas regarding the economic thought and decision making
2. 02 Comprehending and being able to apply the cost-benefit principle,
3. 03 Having a clear idea about factors of production and production costs,
4. 04 Ability to apply opportunity cost, economic profit and production possibilities frontier concepts in problem solving
5. 05 Understanding and interpreting the demand and supply concepts in the market
6. 06 Ability to understand and evaluate the total utility and marginal utility concepts,
7. 07 Learning elasticity concept and being able to define the factors which affects the elasticity of demand and elasticity of supply.

Course Syllabus

Reference Books & Course Materials

1. 01 Micheal PARKIN , Economics ( 10 th edition ), 2011 ,Pearson, Addison Wesley
2. 02 Robert FRANK and Ben BERNANKE , Principles of Micro Economics, Brief Edition, Second Edition, 2011, McGraw Hill
3. 03 N.Gregory MANKIW, (3rd edition), Thomson,South-Western

Learning Outcomes

1. L01 Learning and applying the system of ideas regarding the economic thought and decision making
2. L02 Comprehending and being able to apply the cost-benefit principle,
3. L03 Having a clear idea about factors of production and production costs,
4. L04 Ability to apply opportunity cost, economic profit and production possibilities frontier concepts in problem solving
5. L05 Understanding and interpreting the demand and supply concepts in the market
6. L06 Ability to understand and evaluate the total utility and marginal utility concepts,
7. L07 Learning elasticity concept and being able to define the factors which affects the elasticity of demand and elasticity of supply.

Program Outcomes

1. P01 Has knowledge of the basic concepts, theory and methods in the field of public relations, advertising, marketing and integrated marketing communications.
2. P02 Has knowledge of the appropriate media planning processes for target audiences in the field of public relations and advertising.
3. P03 Is able to write periodic reports on the activities carried out in the fields of public relations and advertising.
4. P04 Is able to use research and planning methods and techniques related to public relations and advertising.
5. P05 Knows organisational crisis management processes.
6. P06 Knows the media and digital media communication techniques and processes related to the promotion of institutions and organisations.
7. P07 Knows the creation and application of media strategy in the field of public relations and advertising.
8. P08 Has knowledge of legal regulations and ethics related to public relations and advertising.
9. P09 Is able to conduct marketing and consumer behavior research and undertake planning based on this research data.
10. P10 Is able to conduct public relations and advertising campaigns.
11. P11 Is able to use digital media and social media in the fields of public relations and advertising.
12. P12 Has the ability to use current and effective presentation techniques in the field of public relations and advertising.
13. P13 Is able to monitor social developments and changes in the behavior of the target audience and use the information obtained to design public relations and advertising campaigns.
14. P14 Is able to take initiative in solving problems in the fields of public relations and advertising by acting as a responsible individual as well as a team member.
15. P15 Is able to create and implement brand and communication strategies.
16. P16 Is able to analyse consumer behavior in traditional and digital channels of communication using scientific methods and to evaluate the unique dynamics of these channels.
17. P17 Is aware of and acts in accordance with the standards and ethical codes of national and international professional organisations in the fields of public relations and advertising.
18. P18 Can communicate effectively within an international study and work environments.
19. P19 Can apply their learning into practice in real work contexts,

Po-Lo Matrix