UNIVERSITI TEKNOLOGI MARA

COURSE INFORMATION

Confidential

Course Code : ECO162

Course Name (English) : MICROECONOMICS APPROVED

Course Name (Malay) : MIKROEKONOMI

Course Level : 4 - Diploma

SLT : 120 Hours

Equivalent to 3 Credits

Face to Face: 56 Hours

Non Face to Face: 0 Hours

Student Preparation Time: 64 Hours

Pre-Requisite Courses : No course recommendations

Co-requisite Courses : No co-requisite Courses listed

Equivalent Courses : No equivalent Courses listed

Teaching Period Duration : 17 Weeks

Resource Person : NABILA BINTI AHMAD

National Education Code : Social Sciences, Business and Law

Delivery Period Duration : 1 Semester

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
Course Learning Outcomes

At the end of the course, students should be able to:

1. To describe basic microeconomic concepts, theories and problems ( C3 )

2. To apply economic knowledge in explaining individual, firms' and market behaviours ( A3 )
3. To apply economic reasoning to economic issues and policies ( A2 )

Course Description

This course discusses the fundamental microeconomic principles governing the behavior of economic agents and their
application in analyzing microeconomic issues.

Syllabus Content

1. Introduction to Economics

1.1 Definition of economics (Conventional and Islamic Perspectives)

1.2 Economic concepts (Conventional Perspective)
1.3 Production Possibilities Curve (PPC)
1.4 Four Basic economic problems
1.5 Four types of economics systems

2. Demand and Supply

2.1 Classification of goods (Conventional and Islamic perspective)

2.2 Definition of demand, law of demand, individual and market demand
2.3 Change in quantity demanded and change in demand
2.4 Determinants of demand
2.5 Exceptional demand (Veblen/Luxury goods and Giffen goods)
2.6 Definition of supply, law of supply, individual and market supply
2.7 Change in quantity supplied and change in supply
2.8 Determinants of supply
2.9 Exceptional supply (labor market)

3. Elasticity

3.1 Elasticity of Demand

3.1.1 Price elasticity of demand
Definition
Measurement and the degrees of price elasticity of demand
Determinants of price elasticity of demand
Relationship between price elasticity of demand and Total Revenue
3.1.2 Income elasticity of demand
Definition
Measurement
Application: Types of goods (Normal goods: Necessity and
Luxury) and (Abnormal goods: Inferior goods)
3.1.3 Cross elasticity of demand
Definition
Measurement
Application: Relationship of goods (Substitutes and
Complementary)
3.2 Price elasticity of Supply
Definition
Measurement and degrees of price elasticity of supply
Determinants of elasticity of supply

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
4. Market Equilibrium and Government intervention

4.1 Definition of market equilibrium

4.2 Determination of equilibrium price and quantity
4.3 Application of market analysis: Changes in demand and supply and effect on equilibrium price and quantity
4.4 Government intervention in the market
4.4.1 Maximum price
4.4.2 Minimum price
4.4.3 Subsidy and Indirect taxes
4.5 Price control from Islamic perspective

5. Theory of Consumer Behavior

5.1 Ordinal approach (basic concept without calculation)

5.1.1 Budget line
5.1.2 Indifference curve
5.1.3 Consumer equilibrium

6. Production and Cost Theory

Short-run production
6.2 Law of diminishing marginal returns
6.3 Stages of production
6.4 Short-run costs
6.5 Long run average cost
6.5.1 Economies of scale
6.5.2 Diseconomies of scale

7. Theory of Firm and Market structure

7.1 Profit maximization: Total and marginal approach

7.2 Perfect Competition
7.2.1 Characteristics
7.2.2 Short-run equilibrium
7.2.3 Shut-down point
7.2.4 Long run equilibrium
7.3 Monopoly
7.3.1 Characteristics
7.3.2 Short-run equilibrium
7.3.3 Long run equilibrium
7.3.4 Three types of price discrimination
7.3.5 Comparison between long run equilibrium of perfect competition and monopoly
7.4 Monopolistic Competition
7.4.1 Characteristics
7.4.2 Short-run equilibrium
7.4.3 Long run equilibrium
7.5 Oligopoly
7.5.1 Characteristics
7.5.2 Kinked demand curve
7.5.3 Short-run equilibrium

8. Theory of Distribution

8.1 Wage determination (Perfect competition)

8.2 Other reward to factors of production (brief introduction)
8.2.1 Rent
8.2.2 Profit
8.2.3 Interes

Teaching Methodologies

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
Lectures
Presentation
Tutorial

Proposed % Marks Approved by KPP

Question Difficulty Levels Range

C1 - C2 60 - 70

C3 - C4 30 - 40

C5 - C6 0-0

Assessment

Continuous 100.00%
Assessment: Presentation - 20% out of 30 on Week 10. Passing Mark(s): 15
ONLINE PRESENTATION
CLO: 3

Quiz - 20% out of 60 on Week 4. Passing Mark(s): 30

ONLINE QUIZ
CLO: 1

Test - 15% out of 50 on Week 6. Passing Mark(s): 25

ONLINE TEST 1
CLO: 1

Test - 15% out of 50 on Week 9. Passing Mark(s): 25

ONLINE TEST 2
CLO: 1

Written Report - 30% out of 30 on Week 8. Passing Mark(s): 15

GROUP ASSIGNMENT
CLO: 2

Transferable Skills

Reflective Learner Responsive

Special Regulation

This Module has no special regulation

Reassessment Requirement

This Module has no Reassessment Requirement

Reassessment Description

This Module has no Reassessment Description

Recommended Text

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
1. Muhammad Abdul Mannan, The Making of Islamic Economic Society, n/a, 1984, ISBN: n/a
2. Muhammad Abdul Mannan, Islamic Economics: Theory and Practice, n/a, ISBN: n/a
3. Tucker, Irving B., Economics for today, 0, South-Western College Publishing, 2008, ISBN: n/a
4. Begg. D, Fischer. S and Dornbusch. R, Economic edition, Mc Graw Hill, 2004, ISBN: n/a
5. John Sloman, Economics, 0, Edingburgh, 2006, ISBN: n/a
6. Slavin Stephen L, Economics, , Mc Graw Hill, 2007, ISBN:

References

1. Tey Hwei Choo, Nabila Ahmad, Zulkhairi Nisa, Irlisuhayu Mohd Ramli, Rosmaiza Abd Ghani, Fundamentals of
Economics, Oxford Fajar Sdn. Bhd., 2017, ISBN: 9789834720490

Other References

This module does not have other references

Course Extra Information

This Module has no extra information

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
 UNIVERSITY TEKNOLOGI MARA

COURSE LEARNING OUTCOMES - MOE LEARNING OUTCOMES - SOFT SKILLS LEARNING OUTCOMES RELATIONSHIP MATRIX

COURSE CODE ECO162 FACULTY / ACADEMY FACULTY OF BUSINESS MANAGEMENT

COURSE NAME (IN ENGLISH) MICROECONOMICS CREDIT UNIT 3

COURSE NAME (IN MALAY) MIKROEKONOMI Resource Person NABILA BINTI AHMAD

  Achievement of MOHE Learning Outcomes Achievement of Soft Skills Learning Outcomes

Course Learning Outcomes (CLO) LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9 SS1 SS2 SS3 SS4 SS5 SS6 SS7

To describe basic microeconomic

CLO1 concepts, theories and problems /
( C3 )

To apply economic knowledge in

CLO2 explaining individual, firms' and / /
market behaviours
( A3 )

To apply economic reasoning to

CLO3 economic issues and policies / /
( A2 )

Ministry of Education Learning Outcomes Soft Skills Learning Outcomes

i. Knowledge i. Critical Thinking and Problem-solving Skills

ii. Practical Skills ii. Communication Skills
iii. Thinking and Scientific Skills iii. Team Skills
iv. Communication Skills iv. Ethics & Moral Professionalism
v. Social skills, Teamwork and Responsibilities v. Life-long Learning & Information Management
vi. Values, Ethics, Moral and Professionalism vi. Entrepreneurial Skills
vii. Information Management and Life Long Learning vii. Leadership Skills
viii. Management and Entrepreneurship
ix. Leadership Skills

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
 UNIVERSITY TEKNOLOGI MARA

COURSE LEARNING OUTCOMES - TAXONOMY LEVELS

COURSE CODE ECO162 FACULTY / ACADEMY FACULTY OF BUSINESS MANAGEMENT

COURSE NAME (IN ENGLISH) MICROECONOMICS CREDIT UNIT 3

COURSE NAME (IN MALAY) MIKROEKONOMI Resource Person NABILA BINTI AHMAD

COGNITIVE PSYCHOMOTOR AFFECTIVE

COURSE OUTCOMES
C1 C2 C3 C4 C5 C6 P1 P2 P3 P4 P5 P6 P7 A1 A2 A3 A4 A5

To describe basic microeconomic

1 concepts, theories and problems /
( C3 )

To apply economic knowledge in explaining

2 individual, firms' and market behaviours /
( A3 )

To apply economic reasoning to economic

3 issues and policies /
( A2 )

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017
 UNIVERSITY TEKNOLOGI MARA

COURSE OUTCOMES

COURSE CODE ECO162 FACULTY / ACADEMY FACULTY OF BUSINESS MANAGEMENT

COURSE NAME (IN ENGLISH) MICROECONOMICS CREDIT UNIT 3

COURSE NAME (IN MALAY) MIKROEKONOMI Resource Person NABILA BINTI AHMAD

ACHIEVEMENT OF MOE LEARNING OUTCOMES

COURSE LEARNING OUTCOMES TEACHING METHODOLOGY ASSESSMENT
LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 LO9

To describe basic microeconomic concepts, No Instructional Methods Test

1 theories and problems / Linked Quiz
Test

2 To apply economic knowledge in explaining / No Instructional Methods Written Report

individual, firms' and market behaviours Linked

3 To apply economic reasoning to economic / No Instructional Methods Presentation

issues and policies Linked

Faculty Name : FACULTY OF BUSINESS MANAGEMENT Start Year : 2020

© Copyright Universiti Teknologi MARA Review Year : 2017