ECO1141: Principles of Economics

This module provides an introduction to an important area of Economics commonly known as Microeconomics. I t considers the operation of a market economy and the problem of how best to allocate society's scarce resources to achieve the maximum satisfaction of economic wants. The module considers the way in which various decision making units in the economy i.e individuals and firms make their consumption and production decisions and how these decisions are coordinated. It considers the basic economic concepts and principles, the price theory, the consumer theory, the production theory and finally models of market structures.