MICROECONOMICS

Course Description

Course involves introduction to economics, 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.

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 To derive possible outcomes by observing microeconomic data SOLO 4
2. L02 To define and calculate the factors which affect the elasticity of demand and elasticity of supply. SOLO 2
3. L03 To define factors of production and forces of the market. SOLO 2
4. L04 To assess the economic performance of markets and the market participants SOLO 5
5. L05 To sketch economic models SOLO 2
6. L06 To compare the economic performance of different markets with reference to the degree of their competitiveness SOLO 4
7. L07 To predict the future economic performance of markets SOLO 5
8. L08 To plan production possibilities under scarcity and the gain from trade SOLO 4

Program Outcomes

1. P01 Has knowledge of social service application areas (health, social welfare services, education, social security, civil society, local government).
2. P02 Has knowledge of social work theories (system, ecology, empowerment theory).
3. P03 Has knowledge of human development and social environment.
4. P04 Use knowledge of communication skills (with individuals, families, groups and different social groups).
5. P05 Use knowledge of management and management processes (management of private and public social service institutions and organizations)
6. P06 Apply knowledge of research methods and techniques in social work.
7. P07 Has the ability to perform planned change process (linking, diagnosis and evaluation, planning, implementation, evaluation, termination and monitoring of applications) by considering similarities and differences for all levels of applicants.
8. P08 Social service application areas (Health, education, social security, civil society, local government), social service theories (system, ecology, empowerment theory), human development and social environment, communication (with individuals, families, groups and different social groups) apply management and management processes (management of private and public social service institutions and organizations), research methods and techniques, professional ethics, principles and values, and the ability to practice social work with different client groups.
9. P09 Has the ability to distinguish and collect appropriate information for social investigation, evaluation and report preparation
10. P10 Has the ability to interpret research results and professional literature.
11. P11 Has the ability to develop inter-institutional relations, communication and joint services.
12. P12 Acts in accordance with professional ethics, norms and standards that determine duties and rights related to social work profession.
13. P13 It adopts social justice and rights based approach within the framework of social, scientific, cultural and professional values.
14. P14 Develop an understanding of individual, family, group, institution, community, community and global practices in order to improve social functionality and facilitate social change
15. P15 Becomes a model to the society with knowledge, skills, values ​​and attitudes and adopts the understanding of lifelong learning.

Po-Lo Matrix