Principles of Economics I

Content:
Concepts and principles of economics, economic organization of society,  theory of consumer behaviour, indifference curve analysis of consumer’s equilibrium, theory of demand, theory of supply, equilibrium of demand and supply.

Students upon successful completion of the course will be able to:

• understand concepts  and principles of economics
• describe supply and demand model to determine the equilibrium price and quantity in markets.
• explain theories of utility and how it affects consumers’ choices
• apply principles of economics in planning, implementing and evaluating rural development projects/programmes/policies.
• criticize the relationship between principles of economics and implementation of development programmes.