Principles of Microeconomics

Principles of Microeconomics (BM3106) module focuses on the knowledge and understanding of the economic behaviour of individual economic decision-makers such as consumers, workers, firms, or managers. It also analyses the interaction and behaviour of groups of these individuals such as households, industries, markets, labour unions, and trade associations. As the focus of this module is on the underlying economic principles, it making the module suitable for any student whose programme of study does not require a deeper knowledge of economic theory. In the beginning of the classes, students will be introduced to price and output as determined by the forces of demand and supply. They will learn how these forces are themselves determined as the outcome of decisions of households and firms.