First Year Sem I 2024 October

This introductory course provides a foundational understanding of microeconomics, focusing on the basic principles and methods of economics. Students will explore what economics is, why it is essential, and how it impacts decision-making for individuals, businesses, and governments. The course begins by examining the scope and methodology of economics, distinguishing between positive and normative economics and between microeconomics and macroeconomics. Key topics include brief introduction of resource allocation, opportunity cost, marginal analysis, and efficient markets, equipping students with tools to analyze real-world economic problems and decisions. Through discussions, examples, and applications, students will learn to think like economists, understand societal impacts, and develop skills for informed citizenship. This course is ideal for students interested in economics, business, or social sciences.