| COURSE DESCRIPTION | ||||||||||||
| College | College of Administrative & Financial | Department | Finance | |||||||||
| Sciences | ||||||||||||
| Course Name | Microeconomics | Course Code: | ECON101 | |||||||||
| Credit Hours | 3 credit Hours | Contact Hours | 3 | |||||||||
| Language | Arabic | |||||||||||
| English | ||||||||||||
| Track | College Req. | Dep. Req. | Concentration | |||||||||
| Level | Level 3 | Prerequisite | Passing the first year | |||||||||
| Course Description:
Introduction to Microeconomics is an introduction to the economic theory involving the examination of how decision making by firms and individuals is shaped by economic forces. Emphasis is placed on demand, supply, market equilibrium analysis, and basic market structure models. The invisible hand as the driving force for economic decisions as well as market externalities are discussed. The class concentrates on providing a balanced approach to studying economic agents’ behavior and its impact on the global economic settings. |
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| Course Learning Outcomes:
1. Understand the relationship between various market forces. 2. Discuss the key microeconomic concepts of scarcity, opportunity cost, comparative advantage, and externalities with reference to Saudi economy. 3. Compare key characteristics among the various market structures of monopoly, oligopoly, monopolistic competition, and perfect competition. 4. Analyze the factors of production and their respective economic returns |
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| 5. Apply supply and demand model to determine market equilibrium.
6. Recognize how changes in supply, demand, and regulations affect market outcomes. 7. Understand the concept of elasticity and its applications. 8. Explore the effects of imperfect information on markets. 9. Identify the implications of an economic agent’s actions on global economic settings and on Saudi economy. |
| Course Major Topics:
1. Introduction to Microeconomics 2. Elasticity 3. Production Technology and Cost 4. Market Structure 5. Market Failure 6. Factors of Production |
| Learning Resources
• Textbook O’Sullivan, A., Sheffrin, S. M., & Perez, S. J. (2019). Survey of Economics: Principles, Applications, and Tools. (9th). Upper Saddle River, NJ: Pearson Education. ISBN: 1256286222 . • References: Microeconomics, 11/E Karl E. Case. Ray C Fair. Sharon Oster ISBN-13: 97801330241 Prentice Hall • Paper, 504 pp Published 05/16/2013
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Grading:
Course works (assignments, quizzes, projects, case studies, board discussion): 25%
Midterm exam 25%
Final Exam 50%
