MQA 02- 00703

Summary of information on GT00703

1. Name of course/module: Microeconomics

2. Course code:GT00703
3. Name(s) of academic staff: Nur Shahirah Azman/ Dr. Suzillah Sidek
4. Rationale for the inclusion of the course/module in the programme:
The course is designed to equip students with knowledge of basic principles in microeconomics
that essential in real-life situations hence enhance students’ knowledge in its applications to the
economic, financial and banking issues.
5. Semester and year offered: Semester 1, Year 1
6. Total student Face to face Total guided and independent learning
learning time
(SLT)
L=Lecturer L T P O Total guided=26
T=Tutorial Total independent learning=62
P=Practical 26 13 Nil 5 Total=26+62=88
O=Others
7. Credit value: 3 hours
8. Prerequisite (if any): None
9. Learning outcomes:

On successfully completing this course, the student should be able to:

1) Identify basic microeconomic theories and concepts thus enable students to give examples of
the theories and concepts learned (LO1, C1);
2) Be able to identify and explain microeconomic analysis of contemporary problems and policies
(LO2,C2);
3) Make use of the theories and concepts learned in various scenarios related to business and
finance/banking sector (LO3, CTPS2, C4).

10. Transferable skills:

Skill and how they are developed and assessed, project and practical experience and internship:
1. Analytical thinking (through a problem-solving questions).
2. Decision making skill (through a group assignment/hands on training program).
11. Teaching-learning and assessment strategy:
Problem solving and scientific

Information management and

Knowledge of discipline area

Social and team skills and

Value, attitude, ethic and

Practical skills/ practical/

long life learning skills

Communication skills

entrepreneurial skills

Leadership skills
professionalism

Managerial and
responsibilities
psychomotor

skills

Assessment % P1 P2 P3 P4 P5 P6 P7 P8 P9
Individual 70
a. Mid-term 30 / /
b. Final exam 40 / /
Group 30
a. Group 20 / / / / / /
assignment
b. E-learning 10 / / / / / /
 MQA 02- 00703
12. Synopsis:
This course is intended to introduce students to concepts and the discipline of microeconomics
that will enable them to understand and analyze structure and performance of the market economy.
The five key principles of economics – the principle of opportunity cost, the marginal principle, the
principle of diminishing returns, the principle of voluntary exchange, and the real-nominal principle
- are addressed and applied repeatedly in different circumstances. The course starts with providing
a foundation for more detailed study of individual decision-making and markets. After a brief
introduction, the course proceeds with a closer look at supply and demand, including elasticity,
government intervention in the market and consumer choice. Following this, the course explores
the production and costs, setting the stage for an examination of alternative market structures,
including the extremes of perfect competition and monopoly, as well as the middle ground of
monopolistic competition and oligopoly. These market structures will focus on its fundamental
theories and its application.

13. Mode of delivery:

Lecture, tutorial, workshop, seminar, etc:
1. Lecture.
2. Tutorial classes.
3. Interactive Learning (E-learning)
14. Assessment methods and types:
The assessment of this course will be based on the following:
Component Weight
a. Mid-term 30%
b. Group assignment 20%
c. E-learning Assessments 10%
d. Final exam 40%
Total 100%
15. Mapping of the course/module to the faculty aims:

national and international level for the progress

finance that based on information technology
and financial with global perspectives through

Producing knowledgeable and trained human

To produce education knowledge in business

Always try to establish good relationship with

Producing balanced education by combining

industrial sector, government and society at

compete in international market and able to
capital in business areas and international

Producing source of skilled labor that can

contribute development of the nation.

conceptual skills, technical, humanity
teaching, research and publication.

and effective communication.

and multimedia training.

of the faculty.

Define and explain basic / /

economic problems in
microeconomics (LO1,
C1);

Explain issues happened in / / / /

real world by using
microeconomic theories
(LO2,C2, P2);
 MQA 02- 00703
Critically discuss and be / / / / /
able to demonstrate the
link between
microeconomic theories
and its application in any
field such as business,
finance and banking sector
(LO3, CTPS2, C4).
16. Mapping of the course/module to the programme learning outcomes:

within the group in preparing any

Integrate all knowledge that they

developments and willingness to

Demonstrate a good team work

contemporary microeconomics
Demonstrate ethical behavior
Having the ability to effective

have obtained by be able to

Prepare reports on a study

Demonstrate responsibility
understanding of theories

when managing research

critically discuss towards

Explore microeconomics
theories and concepts

finding by be able to

towards community
demonstrate basic

share knowledge
problem solving

task given

issues
Identify basic / / / /
microeconomic
theories and
concepts thus
enable students
to give examples
of the theories
and concepts
learned.
Be able to identify / / / / / /
and explain
microeconomic
analysis of
contemporary
problems and
policies.
Make use of the / / / / / /
theories and
concepts learned
in various
scenarios related
to business and
finance/banking
sector.
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17. Content outline of the course/module and the SLT per topic (Please refer Appendix A)
Weeks Topics Remark
1 Course explanation  Assignment question
(13/9/2018)  Synopsis, rules, will be upload in the
attendance, participation, Smart2UMS.
plagiarism and tutorial
 Guidelines for
assessments.
2 1- The scope and method of Refer to the list of references
(20/9/2018) economics, economic problem:
scarcity and choice.

The candidates should be able to:

 Identify 4 main goals of
economic policy.
 Identify four basic of
economic problems.
 Understand concept of
scarcity, choice and
opportunity cost.
 Differentiate types of
economic system and
understand the role of
government.
3 2- Demand, supply and market Refer to the list of references
(27/9/2018) equilibrium.
Tutorial start
The candidates should be able to: (27/9/2018, Thursday)
 Understand firms and
households decision Thursday
making units. (Venue: Bilik Tutorial 1)
 Understand input and Slot 1: 2.00 pm – 3.00 pm
output markets: The
circular flow. Slot 2: 3.00 pm – 4.00 pm
 Be able to understand law
of demand and law of Slot 3: 4.00 pm – 5.00 pm
supply.
 Can distinguish factors Friday
that determine what (Venue: Bilik Tutorial 3)
factors will move along Slot 4: 9.00 am – 10.00 am
the demand/supply curve
versus what that shift Slot 5: 10.00 am – 11.00 am
demand/supply curve.
 Students should be able Slot 6: 2.00 pm – 3.00 pm
to explain how market
works is not in equilibrium Slot 7: 3.00 pm – 4.00 pm
responds to restore an
equilibrium. Slot 8: 4.00 pm – 5.00 pm
3- Demand and supply
applications.
* You might join ANY tutorial
The candidates should be able to: slot that you interested
 Understand the (FLEKSIBLE)
difference between price
rationing and non-price * Maximum per slot is 40
rationing concept. students ONLY.
 MQA 02- 00703
 Be able to differentiate
how price floor and price
ceilings work in the
market place.
 Can explain one
application in supply and
demand analysis: An oil
import fee.
 Explain concept of market
efficiency.

4 4- Elasticity Refer to the list of references

(4/10/2018)
The candidates should be able
to:
 Understand why
elasticity is most
preferable as a measure
of responsiveness to
slope and how to
measure it.
 Student should be able
calculate different types
of elasticity.
 Understand the
determinants of demand
elasticity.
 Be able to define,
calculate and give
examples to other
important types of
elasticities.
5 5- Household behaviour and Refer to the list of references
(11/10/2018) consumer choice

The candidates should be able

to:
 Understand the emerging
of behavioral economics
field and concept of
utility.
 Identify concepts and
shapes of budget
constraint and
indifference curve.
 Understand 4 axioms of
indifference curves.
 Be able to understand
how consumer’s make
decision by using
optimization concept.
 Be able to identify
income effect and
substitution effect.
 MQA 02- 00703
 Explain how interest
rates affect household
saving (application).

6 6- The production process: The Refer to the list of references

(18/10/2018) behaviour of profit-maximizing
firms.
The candidates should be able
to:
 Understand the
importance of opportunity
costs to economic profits
and how these profits
influence firm decision
making.
 Be able to identify,
describe and differentiate
total, marginal and
average products curves
and how these curves
related to each other.
 Briefly explain and
distinguish isoquants and
isocosts concepts.
7 7- Short-run ,long-run costs and Refer to the list of references
(25/10/2018) output decisions.

The candidates should be able

to:
 Be able to describe and
graph the major
components of firm cost.
 Discuss how short run
conditions affect a firm’s
short run and long run
behavior.
 Explain causes and
effects of economies and
diseconomies of scale.
 Describe long run
adjustments for short run
profits and losses.
8 8- Market structure I Refer to the list of references
(1/11/2018) (Perfect competition)
* Dr. Suzillah Sidek
The candidates should be able to:
 Understand
characteristics of perfect
competition.
 Examine profit
maximization and loss
minimization condition.
 Analyse long-run
adjustment.
 MQA 02- 00703

Week 9 (15 November 2018)

MID-TERM EXAMINATION
(Time: 8.00 am; Venue: TBA)

10 9- Market structure II
(22/11/2018) (Monopoly & Monopolistic Refer to the list of references
Competition)
* Dr. Suzillah Sidek
The candidates should be able
to:
 Understand
characteristics of
monopoly and
monopolistic market
structure.
 Examine profit
maximization and loss
minimization condition.
 Understand product
discrimination.
 Examine short run and
long run price and output
determination.
 Be able to distinguish
between perfect
competition market vs
monopoly market vs
monopolistic competition
market.
11 10- Market structure III Refer to the list of references
(29/11/2018) (Oligopoly)
* Dr. Suzillah Sidek
The candidates should be able
to:
 Understand
characteristics of
oligopoly market
structure.
 Examine various
oligopoly models.
 Be able to make
comparison between
 MQA 02- 00703
oligopoly market
structure to other types of ASSIGNMENT
market structures. SUBMISSION

Date : 30 November
2018 (Week 11)

Time: NOT LATER THAN

12.00 AM (midnight)

12 11- Market structure III Refer to the list of references

(6/12/2018) (Oligopoly: Continue)
* Dr. Suzillah Sidek

13 Revision Week 1
(13/12/2018)
14 Revision Week 2
(20/12/2018)
18. Main references supporting course
The main reference:
1. Case, K. E., Fair, R. C., Oster, S. C. (2017). Principles of Microeconomics, 12th
Edition,Pearson.

Supporting references:
1. Parkin, M. (2014). Microeconomics, 11th Edition, Pearson.
2. Besanko, D., Braeutigam, R. (2011). Microeconomics, 4th Edition, USA: John Wiley &
Sons, Inc.
3. Sexton, R. L. (2010). Exploring Microeconomics, 5th Edition, South-Western
College Publishing.
19. Other additional information:
 A reading list will be made available to the students on Smart-UMS. The reading list will
contain essential readings available from library resources or online material. Students
also encourage to access Smart2UMS frequently for latest announcement.