Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be able to apply basic conceptual and analytical tools to examine market outcomes such as price determination and market demand and supply; understand the conditions for competitive, monopolistic and imperfectly competitive markets; understand the interplay between market conditions and the objectives and strategies of firms; appreciate the role of inter-industry linkages and the usefulness of economic forecasting in the decision making of firms.
Synopsis The subject examines the theory of demand and supply and market equilibrium, firm's production and costs, behaviour in competitive markets, strategies in imperfectly competitive markets. The course concludes with an introduction to inter-industry analysis and economic forecasting.
Assessment Mid-semester test: 30% + Examinations (2 hours): 70%