1. Module Title: Microeconomics
  2. Module Prefix/Number: ECON 256
  3. Credit Hours: Three (3)
  4. Description: This course gives students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system.
  5. Student Learning Outcomes: At the end of this course students will have:
    • Understand the concept of scarcity
    • Describe the demand and supply models
    • Demonstrate market outcome given a change in supply or demand
    • Explain the concept of market equilibrium
    • Describe and explain elasticity of demand and supply
    • Identify and explain the different market structures
    • Explain how the profit-making approach can produce efficient outcomes
  6. Grading Scale: Your letter grade in this course will be determined by calculating your score on all assignments and exams as a percentage of the total possible score, on a standard grading scale:
    Your Letter Grade Your Score as % of Total
    A 90–100
    B 80-89
    C 70-79
    D 60-69
    F 0-59

    Assignments 40%

    As part of the requirements, students must complete short assignments based on these studies. There will be 2 assignments, each attracting 20% of total course grade.

    Assignment (Essay) 20%

    Students are also required to turn in an essay assignment.

    Guidelines for the essay assignment:

    • Word limit: 1500 – 2500
    • The assignment should be typed using Times New Roman, 12-point size, double spaced, and 1″ margins.
    • The assignment should be edited for spelling and grammar.
    • References to be provided using the APA guidelines.

    Exam 40%

    There will be a Final exam. The exam will be based on material covered in the textbook readings and lecture notes.