Basic Microeconomics

This course is divided into two parts. The first part covers the basic principles of economics, land reform, taxation, and cooperatives. This is in part a revisit to high school economics. The second part covers an introduction to microeconomics. As a pre-requisite to Econ 20 (Macroeconomics), this course shall cover price and production theories and consumer behavior. The basic principles of price elasticity, production function and profit maximization of the different market structure shall also be covered. It shall also include discussion on consumer utility theory.

The topics covered in this course are generally arranged in accordance with the progressive level of learning economics for beginners. It starts with an overview of economic principles and market structures, then progress into the details of demand and supply, and then advance into production theory and consumer behavior.