Scribd
Upload
2 views4 pages

Coursework File

The document outlines the coursework for a Microeconomics class taught by Azaz Ali Ather Bukhari at the University of Narowal, covering topics such as supply and demand, market structures, and major economic issues in Pakistan. The course includes lectures, assignments, quizzes, and exams, with a focus on both theoretical and practical applications of microeconomic principles. Recommended textbooks are also provided for further study.

Uploaded by

ranamutahir19
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
2 views4 pages

Coursework File

The document outlines the coursework for a Microeconomics class taught by Azaz Ali Ather Bukhari at the University of Narowal, covering topics such as supply and demand, market structures, and major economic issues in Pakistan. The course includes lectures, assignments, quizzes, and exams, with a focus on both theoretical and practical applications of microeconomic principles. Recommended textbooks are also provided for further study.

Uploaded by

ranamutahir19
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

COURSE-WORK FILE

MICRO ECONOMICS

AZAZ ALI ATHER BUKHARI


LECTURER ECONOMICS (BS-18)
INCHARGE / FOCAL PERSON – YDC
DEPUTY DIRECTOR (BASR)

DEPARTMENT OF MANAGEMENT & ADMINISTRATIVE SCIENCES,


UNIVERSITY OF NAROWAL, NAROWAL, PAKISTAN
COURSEWORK FILE
BS / BBA (HONs): MICRO ECONOMICS
Instructor: Azaz Ali Ather Bukhari

Email ID: [email protected]

Teaching Format: Two Lectures per Week (1.5 Hours Each)

Course Contents
Introduction, Microeconomics and Macroeconomics, Microeconomics: Supply and
Demand, Elasticity of Demand and Supply, Theory of Consumer Choice, Costs and
Production, Market Structures including Perfect Competition, Imperfect Competition,
Monopoly and Oligopoly, Macroeconomics, National Income Accounts, Labor and
Goods Market, Money and Interest, Price Control and Tax, Market Failure and
Externalities and Major Issues in Pakistan Economy.

Thematic Framework
▪ Detailed lectures will be devoted to Economics (L 1-2), branches of Economics namely;
Microeconomics and Macroeconomics and Orientation class.

▪ Lectures will be devoted to Economy (L 2-4), types of Economics, discussion on


Economic Agents, the circular flow of the Economy and analysis of closed and open
Economy.

▪ Supply & Demand (L 4-7) including Demand, Law of Demand and its determinants,
Price and Non-Price Factors, Why demand is negative sloped, Factors causing shifts in
demand curve and movements of demand curve and the concept of Giffen Goods
similarly Supply, Law of Supply, its determinants, shift or non-price factors, slope of
supply curve, axioms and limitations.
Assignment Maximum shift Cases of demand and Supply and their equilibrium
condition.
Quiz This week is will go through the Quiz on the topic of economic agents, economy
and the circular flow.

▪ Elasticity’s of Demand and Supply (L 7-12) Measures of responsiveness including


Price elasticity of demand, Cross price elasticity of demand and income elasticity of
demand.
Assignment calculation of such elasticities (Point and Arc) under different numeric
scenario and their interpretation.
Quiz will be taken to calculate Point and such elasticity.

▪ Theory of Consumer Choice (L 12-16) Axioms of preferences, axioms of choice


including completeness, convexity, monotonicity, continuity, transitivity, local non-
satiation. Drawing Indifference curve on the basis of above mentioned axioms, then
Budget constraint including its properties namely convexity of budget set, closed set,
compact set and non-empty set. Tangency of indifference curve and budget constraint and
Analysis of optimality condition.
Assignment Derive optimality condition (Maximization of utility or minimization of
budget constraint) in Mathematical Approach (differentiation) of two good say x and y.
Quiz will be asked to show that which assumptions draw the curve and which makes the
preferences and discuss how optimality condition is satisfied.

Mid Term Exam (25%)

▪ Theory of Costs (L 16-20) Costs of production including Total cost, Fixed, Average
Fixed, Variable, Average Variable, Marginal cost, Sunk, Implicit, Explicit, Total
Opportunity Cost, Accounting Profit, Economic Profit, Relationship between AVC and
ATC, Relationship between MC, AVC and ATC. Shapes and curves of all costs curves.

▪ Markets Structure (L 20-25) Perfect competition its assumptions and limitations,


analysis of curves. Analysis of profit under perfect competition namely abnormal profit,
normal profit, normal loss and breakeven point. Monopoly, price discrimination under
monopoly, analysis of super normal profit. Monopolistic competition including their
assumptions and diagrams. Oligopoly including Paul Sweezy’s kinked demand curve,
drawing of kinked average revenue due to two different elasticity of demand and its
limitations.
Assignment Draw all the profit and loss cases of Market structure in a economy, how
and why they differs.
Quiz 1) How and why a monopolist can control over either quantity or price of the
product, can he control both, why this is so, address your answer?
Quiz 2) Why there is kink in the average revenue curve, and also discuss why there exists
a gap in marginal revenue curve, how you support you answer?
▪ Price Control and Market Failure and Externalities (L 25-27) Discussion of Demand
and Supply and the free market behavior, what are the market imperfection, how and why
the free market fails to deliver the best level of output and prices due to externalities,
rigidities and monopoly etc and how Government control the market and tax in an
economy, does Laissez Fair Policy exists?
Assignment Home assignment will be given
Quiz Quiz will be asked in Public and Private Framework

▪ Major Issues in Pakistan Economy (L 27-32) Comprehensive lectures on major issues


of Pakistan’s economy including inflation, unemployment, uncertainty, disruptions in
monetary and fiscal policy, trade relating issues, trade balance, budget deficit, twin
deficits, money supply, economic development, external shocks etc.
Assignment No assignment was asked
Quiz No quiz was asked

Final Term Exam (50%)

Recommended Books
▪ Mankiw, N. G. (2002) “Principles of Microeconomics”, 2nd Edition, Cengage Learning.
▪ McConnel and Brue. Microeconomics, 7th edn. New York: McGraw-Hill, 2009. Parkin,
Machael, Macroeconomics, 7th edn. Boston: Person, 2005.

▪ Bade, Robin and Parkin, Michael. Foundations of Economics, 5th edn. Boston: Perason,
2010.

You might also like