| Course Description |
The aims of this module are to: (a) introduce students to microeconomics concepts and principles, and (b) prepare students to understand Brunei economy. At the end of this course students should be able to: (i) demonstrate their understanding of how markets clear through the interaction of supply and demand; (ii) show graphically and algebraically how firms respond to changing demand and costs; (iii) show graphically and algebraically the consequences of government intervention in the form of price controls; (iv) demonstrate their understanding of the welfare properties of perfectly competitive markets; (v) demonstrate their understanding of the consequences of monopoly for price, output and welfare, and (vi) demonstrate their understanding of microeconomics principles in Brunei economy.
|
