Meco
Meco
Meco
COURSE BASICS
Credit Hours 3 Cus
Lecture(s) 2 Per Week 90 minutes
Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration
Tutorial (per week) 2 Per Week 60 minutes
COURSE DISTRIBUTION
Core Yes
Elective
Open for Student Category
Close for Student Category
COURSE DESCRIPTION
This course focuses upon basic microeconomic concepts and their implications for individuals and business firms. Particular
attention will be paid to understanding the decision making process of households, business firms and government, and
consequent allocation of resource and price determination under different market structures. Market equilibrium conditions will
be discussed in the short run and the long run under various market models. This course is meant to foster critical evaluation of
standard economic concepts such as scarcity and choice, demand and supply, cost and productions, government intervention &
market failure, price mechanism ,efficient allocation of scarce resources and game theory.
COURSE PREREQUISITE(S)
None
1. Develop an understanding of basic microeconomic concepts and their application to real world situations.
2. Identify core microeconomic issues related to business firms and their behavior under different market
conditions.
3. Comprehend the benefits of market efficiency in resource allocation.
PROGRAM LEARNING GOALS AND COURSE LEARNING OBJECTIVES (CLO) COURSE ASSESSMENT ITEM
OBJECTIVES
Goal 1 Effective Written and Oral Minor goal: Operationalized through class CP,Project write up & presentation
Communication participation and group project (CLO#4)
Goal 2 Ethical Understanding and
Reasoning
Goal 3 Analytical Thinking and Problem Minor goal: Application of microeconomic Quizzes and exams
Solving Skills principles in real world scenario (CLO # 1,2
& 5)
Goal 4 Application of Information Minor goal: Opertioalized through Project writeup and presentation
Technology prepration of group project reports and
presentations (CLO#4)
Goal 5 Teamwork in Diverse and Minor Goal: Students have to work in Group project
Multicultural Environments random groups for project (CLO#4)
Goal 6 Understanding Organizational
Ecosystems
Goal 7 (a) Program Specific Knowledge Major Goal: Comprehensive coverage of CP, quizzes and exams
and Understanding topics in microeconomics (CLO# 1- 5)
Goal 7 (b) Understanding the science NA
behind the decision-making process
Lahore University of Management Sciences
GRADING BREAKUP AND POLICY
EXAMINATION DETAIL
Midterm
Exam Yes
COURSE OVERVIEW
RECOMMENDED SESSION OUTCOME(S)
LECTURE TOPICS
READINGS (STUDENTS WILL BE ABLE TO )
TEXTBOOK(S)/SUPPLEMENTARY READINGS
TextBook
Principles of Microeconomics(6th Edition) by N.Gregory Mankiw
Supplementary Readings
Managerial Economics (5th Ed) by Dominick Salvatore
Microeconomics(7th Ed) by R.S. Pindyck, D.L. Rubinfeld & P.L.Mehta
Small case studies and handout will be provided throughout the course as required.