Course Description

Economics is a way of thinking about the world. Economists have developed a set of simple but widely applicable concepts and principles that are useful for understating economic situations. The objective of this course is to understand those concepts and principles and to apply them to a business context. This course seeks to introduce the student to microeconomic analysis as a way of understanding the world. A large part of learning microeconomics comprises discovering when abstract models are useful and when they are not. The daily classes are thus devoted to discussing problems that highlight these aspects of microeconomic theory. You should, before class, attempt all problem sets. Most of their value is generated before seeing someone else go through them. 

Course Objectives

1.  Develop an understanding of supply and demand of market
2. Assess the market strategy to develop new business concepts and ideas.
3. Develop skills in a new business venture management including opportunity recognition, market assessment, and financial and product planning.
4. Identify resources and skills.
5. Understand the market structure and apply the strategy

Course Outcomes

Text Book References

1. Economics / Paul A. Samuelson, William D. Nordhaus. — 19th ed. p. cm.—(The McGraw-Hill series economics)
2. Economics for Business ,Ian Worthington, Chris Britton and Andy Rees ,2^nd Edition, Pearson Education Limited.