NMEC101 Economic Principles 1-

This course provides an introduction to a core area of economics known as microeconomics.  It is an introductory course that is aimed at offering the student broad knowledge in understanding principles that lie in formation of microeconomic theory. It considers the operation of a market economy and the problem of how best to allocate society's scarce resources. The course considers the way in which various decision making units in the economy (individuals and firms) make their consumption and production decisions and how these decisions are coordinated