BUS109 Microeconomic Principles
BUS109 Microeconomic Principles
Microeconomics is the study of how individuals and firms make decisions in markets and allocate scarce resources.
In this course, you will explore the fundamental principles of microeconomics, which are essential for understanding consumer behavior, business strategy, and market dynamics in various economic contexts.
Throughout this course, you will learn key microeconomic concepts such as supply and demand, market equilibrium, elasticity, and market structures.
The course covers topics including consumer theory, production and costs, perfect competition, monopoly, and basic game theory.
Through a combination of lectures, problem-solving sessions, and discussions, you will develop analytical skills to apply microeconomic principles to real-world situations.
You will also engage in a short project to reinforce your understanding of these concepts.
This course will provide you with a solid foundation in microeconomic analysis, which is valuable for further studies in economics, business strategy, and public policy, as well as for informed decision-making in your professional career.
DURATION
This course is worth two (2) semester credit hours
Assessment
Online Exam
- Description: The questions in the exam relate to the lecture content and readings.
- Weight: This assessment task is worth 10% of your final grade.
- Length: You have 90 minutes to complete the 50-question exam. You may reattempt it up to two times.
Discussion
- Description: Engage in an asynchronous, one-on-one discussion with your professor about the coursework and its implications for practice.
- Weight: This assessment task is worth 20% of your final grade.
- Length: Each contribution to the discussion should be between 50-100 words. The discussion will run for 5 iterations.
Report
- Description: Choose a topic from the list provided or suggest one to your professor that is relevant to the course.
- Weight: This assessment task is worth 35% of your final grade.
- Length: 1,000-1,500 words (excluding appendices and references).
Presentation
- Description: Live present your report, including findings and recommendations.
- Weight: This assessment task is worth 20% of your final grade.
- Length: 5-7 minutes.
Viva voce
- Description: Defend the findings of your report/presentation in the context of this course.
- Weight: This assessment task is worth 15% of your final grade.
- Length: 10 minutes.
Related Courses
- Pre-requisites – none
- Co-requisites – none
- Exclusions – none
Learning Outcomes
At the end of this course, you will be able to:
- Analyze supply and demand dynamics to predict market equilibrium and price changes in various economic scenarios.
- Apply concepts of elasticity to evaluate consumer and producer responses to market changes.
- Compare and contrast different market structures (e.g., perfect competition, monopoly, oligopoly) and their impact on pricing and output decisions.
- Utilize marginal analysis to explain consumer and firm decision-making processes and optimize resource allocation.
Graduates of this course are eligible for the Professional Certificate in Microeconomics from Cedar Mountains University.
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