INSTITUTE OF PROFESSIONAL PSYCHOLOGY
BAHRIA UNIVERSITY – KARACHI CAMPUS
FIRST YEAR
B.S IN PSYCHOLOGY
Name of Course: Micro Economics
Credit Hour: 03
Course Code: 104
COURSE OBJECTIVES
1) Economics as a Sub-discipline of social-sciences is a vital one as it put sole
emphasize on effectively and productivity using the limited resources available to
different societies of the world.
2) One of the core dimensions of economics is MICROECONOMICS.
3) The subject matter deals with economic behaviors of both consumers and the
firms as an interaction between them creates markets.
4) Microeconomics provides an insight of how consumer preferences are created
changes and how companies respond to those needs and desires.
5) A core area of microeconomics is to assess the impact of govt. policies on market
mechanism, how prices and quantities are determined or how different or varied
markets functions.
Weeks Topics
1st & 2nd
Weeks
What economics is about Two dimensions of
economics Strategic areas of microeconomics.
Microeconomics some basic terminologies.
Measuring business and economic profits. The
decision making process. Role of profit in business.
The opportunity cost.
Weeks Topics
3rd & 4th
Weeks
Demand and its determinants. Market and individual
demand. Marketing graphs in economics. Shift and
