Microeconomics for Business – BBS

Categories: Economics
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About Course

The study of microeconomics for business is essential for understanding how decisions are made in different areas that are highly relevant to the student. The content covered in this course is applicable to both the individual and the firm.

What Will You Learn?

  • To enhance understanding of the microeconomic theories and develop their own skills in using these theories in business decision making.
  • To analyze how individual decision-makers, both consumers and producers, behave in a variety of economic environments.

Course Content

Unit 1: Introduction

  • Meaning and scope of Microeconomics
  • Uses, Importance, and Limitations of Microeconomics
  • Concept and Features of Managerial Economics
  • Subject Matter and Area of Managerial Economics
  • Production Possibility Curve
  • Marginal Analysis
  • Incremental Analysis
  • Economic Statics
  • Economic Dynamics
  • Ten Principles of Economics

Unit 2: Market Equilibrium and Efficiency

Unit 3: Elasticity of Demand and Supply

Unit 4: Analysis of Consumer’s Behavior

Unit 5: Theory of Production

Unit 6: Cost and Revenue Curves

Unit 7: Product Pricing Theories and Practices

Unit 8: Theory of Factor Pricing

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