Scribd
Upload
294 views5 pages

Module in Microeconomics

This document provides an overview of a module in microeconomics taught by Dr. Ven R. Tabije Jr. It begins with the learning objectives which are to define microeconomic concepts, distinguish microeconomics from macroeconomics, analyze and apply the law of supply and demand, and construct and interpret supply and demand curves. Microeconomics is then introduced as the study of individual economic units. Learning resources including videos and exercises constructing supply and demand curves from given price and quantity data are also outlined.

Uploaded by

hannah mari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
294 views5 pages

Module in Microeconomics

This document provides an overview of a module in microeconomics taught by Dr. Ven R. Tabije Jr. It begins with the learning objectives which are to define microeconomic concepts, distinguish microeconomics from macroeconomics, analyze and apply the law of supply and demand, and construct and interpret supply and demand curves. Microeconomics is then introduced as the study of individual economic units. Learning resources including videos and exercises constructing supply and demand curves from given price and quantity data are also outlined.

Uploaded by

hannah mari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 5

WESLEYAN UNIVERSITY PHILIPPINES

COLLEGE OF EDUCATION

MODULE IN MICROECONOMICS BY DR. VEN R. TABIJE ,JR.

LEARNING OBJECTIVES

1. TO BE ABLE TO DEFINE THE DIFFERENTECONOMIC CONCEPTS ,MICROECONOMICS,

LW OF SUPPLY AND DEMAND, SCARCITY, ETC.

2. TO BE ABLE TO DISTINGUISH MICROECONOMICS FROM MACROECONOMICS

2. TO BE ABLE TO ANALYZE AND APPLY THE LAW OF SUPPLY AND DEMAND

3. TO BE ABLE TO CONSTRUCT AND INTERPRET THE SUPPLY AND DEMAND CURVE

I INTRODUCTION

Economics is important in our everyday living. And plays an important role in our society,

. It is astudy of how our society, government , business and individuals allocate the scarce resources and
how they interact with each other in producing and maintaining their livelihood.

Microeconomics is a division of economics that examines the individual units of the economy such as
the household, consumers and producers.

11 PROVERBS 6:6-11- GO TO THE ANT THOU SLUGGARD AND CONSIDER HER WAYS, AND BE WISE,
WITHOUT HAVING A CHIEF,OFFICER OR RULER AND GATHERS HER FOOD IN HARVEST ,HOW LONG
WILL YOU LIE THERE O SLUGGARD, WHEN WILL YOU ARISE FROM YOUR SLEEP,A LITTLE SLEEP A LITTLE
SLUMBER A LITTLE FOLDING OF THE HANDS TO FREST AND POVERTY WILL COME UPON YOU LIKE A
ROBBER

AND WANT LIKE AN ARMED MAN.

THIS PASSAGE EMULATES THE VIRTUES DISPLAYAED BY THE LOWLY ANT AND TEACHES US THE VALUE
OF PATIENCE AND HARD WORK OF FOREBEARANCE AND FORTITUDE

III LEARNING RESOURCES/ACTIVITIES

Drawing of the demand and supply curve

Watching a video

Gathering news information on the application of supply and demand in the market

Writing a reaction paper

Recitation of important terms to remember


IV. BODY CORE

DEFINE OR EXPLAIN THE FOLLOWING TERMS

1. ECONOMICS- the branch of knowledge concerned with the production,


consumption, and transfer of wealth.
2.
-a social science directed at the satisfaction of needs and wants through the allocation of scarce
resources which have alternative uses. We can go further to state that: economics is
about the study of scarcity and choice.

-social science that seeks to analyze and describe the production, distribution, and consumption of
wealth

2 DIVISIONS OF ECONOMICS

MACROECONOMICS- . which examine overall economies on a regional, national, or


international scale.

MICROECONOMICS -which focuses on the behavior of individual consumers and producers,

According to to K.E. Boulding microeconomics is the study of the particular firm,particular


households,individual price,wage, income,of the industry and particular commodity.

What is the importance of Microeconomics ?

1.helps in the efficient allocation of resources

2.understand the working of a market economy

3. helpful in international trade

COMPONENTS OF MICROECONOMICS

1. Theory of consumer Behavior


2. 2. Theory of Producer Behavior
3. 3. Theory of Price
4. 4. Theory of Factor Price

DISTINCTION BETWEEN MICROECONOMICS AND MACROECONOMICS


WHAT ARE THE BASIC MICROECONOMIC ISSUES?

1. PROBLEM OF PRODUCTION Availability of the factors of production is less in comparison to the


needs of production
2. PROBLEM OF DISTRIBUTION –The problem of determining the renumeration of the factors of
production
3. PROBLEM OF ECONOMIC EFFICIENCY –process of utilizing the resources in such a way that the
satisfaction or utility can be maximized
4. PROBLEM OF FULL UTILIZATION OF THE RESOURCES-AVAILAVILITY OF THE FACTORS OF
PRODUCTION IS LIMITED TO ITS ALTERNATIVE USE IS POSSIBLE
5. PROBLEM OF ECONOMIC GROWTH –In developing countries level of economic growth is low.

The law of demand and supply


The law of demand says that at higher prices, buyers will demand less of an economic good.
The law of supply says that at higher prices, sellers will supply more of an economic good.
These two laws interact to determine the actual market prices and volume of goods that are
traded on a market.
APPLICATION /EXERCISES

CONSTRUCT TABLE AND DRAW THE DEMAND AND SUPPLY CURVE FROM THE
FOLLOWING GIVEN FACTS
THE PRICE OF CHICKEN PER KILO IS p120 IN THE MONTH OF SEPT. AND THE QTY
DEMNADE DIS 10,000 KILOS.
With this price the quantity supplied is also 10,000 kilos
The price is increased byP20 in October and there was a corresponding decrease of 200
kilograms . With this price the quantity supplied increase at 12,000 kilograms
In the month of November the price was increased by 40 pesos and there was a
decrease in the quantity demanded by 500 kilos. With this price the quantity supplies
increased at 15,000 kilos.

 FROM THE FF. GIVEN FACTS, CONSTRUCT  A TABLE AND CORRESPONDING


DEMAND AND SUPPLY CURVE 
WHEN THE PRICE OF ONIONS  IN SEPTEMBER  IS  60 PER KILO THE QUANTITY
DEMANDED IS 12,000 KILOS WHILE THE QUANTITY SUPPLIED IS 10,000 KILOS
THE PRICE IS INCREASED BY 20 PESOS IN THE MONTH OF OCT. WITH THE
CORRESPONDING DECREASE IN THE QTY DEMANDED AND INCREASE IN THE
QTY SUPPLIED. iN THE MONTH OF NOVEMEBER THERE WAS AGAIN THE
INCREASE IN THE PRICE OF 20 FROM THE PRICE  OF LAST MONTH WITH A
CORRESPONDING DECREASE IN THE QTY DEMANDED AND INCREASE IN QTY
SUPPLIED.  
SOURCES

I. REFERENCES
McConnel, Campbell R. [2006] Economics,Principles,Problems and
Policies.McGraw Hill.Inc.
Pugel,Thomas A.I[2009 ] International Economics.McGraw Hill Inc.

WEBSITES

www investopedia.com

www.brittanica com

lumencourseslearning com.

You might also like