| Code | Name of the Course Unit | Semester | In-Class Hours (T+P) | Credit | ECTS Credit |
|---|---|---|---|---|---|
| EKF109 | INTRODUCTION TO ECONOMICS I | 2 | 3 | 3 | 4 |
KEY LEARNING OUTCOMES OF THE COURSE UNIT (On successful completion of this course unit, students/learners will or will be able to) |
|---|
| Describe the basic concepts of economics. |
| Explain the changes in market equilibrium using concepts such as supply-demand law, flexibility and price control |
| Interpret consumer behavior by using the concepts of total utility, marginal utility and budget constraint |
| Interpret producer behavior by using the concepts of total cost, marginal cost and budget constraint |
| Interpret the equilibrium formation at different markets by using production costs |