This course, titled "Principles of Microeconomics," is designed to introduce students to the fundamental principles of microeconomics. The primary focus is on understanding how society manages its scarce resources.
Key areas of study include:
● Individual Decision Making: Analyzing how people make choices, considering trade-offs, opportunity costs, and responding to incentives.
● Market Dynamics: Exploring how markets function, including supply and demand, and the role of prices in allocating resources.
● Firm Behavior: Examining how firms make production and pricing decisions.
● Welfare Economics: Analyzing the efficiency and equity of economic outcomes.
For BBM (Bachelor of Business Management) students, this course provides a crucial foundation for understanding:
● Business Decisions: How microeconomic principles influence a firm's operational and strategic choices.
● Market Analysis: How to analyze market trends, consumer behavior, and competitive landscapes.
● Resource Allocation: How to efficiently allocate resources within a business to maximize profitability.
● Policy Implications: The impact of government policies on businesses and markets.
The course uses real-world examples and case studies to illustrate these concepts, making them relevant to future business managers.
- Teacher: Dr Shakiru MUHAMADI
The content of this module will provide students with an understanding of the theories and concept of entrepreneurship, and provide basis for creativity and innovation in the firms they create and manage. It will also provide students with knowledge of the different forms of business ownership as well as sources of financing a business venture.
- Teacher: FIACRE HABIMANA