This course unit is
designed to provide learners with an in-depth introduction to the theories of
microeconomics and its modern application. The course unit is particularly suitable for
first-year undergraduate students who are studying degree courses in agricultural sciences, food science, business studies, and other fields of study, which among other course units
include an introductory course in microeconomic analysis. No prior knowledge of
economics is required as a pre-requisite for reading this course unit.
The overall aims of this course are three-fold.
First, it aims at providing the learners with a sound understanding of the scope
and methods of economic analysis.
Second, it aims at equipping the students with
sufficient knowledge and skills on the basics of demand and supply; theory of
consumer’s behaviour, and theory of production and cost.
Third, it aims at
preparing the students for an intermediate course on microeconomics, which
demands rigorous quantitative techniques in solving and analyzing economic problems.