1.Introduction to econ(1) (1)how to educ

prinsip ekonomi

1. DCQ20062 PRINCIPLES OF ECONOMICS Civil Engr Dept / QS unit / Norlin Ibrahim

2. TOPIC 1 : MICROECONOMICS INTRODUCTION TO MICROECONOMICS DEMAND & SUPPLY MARKET EQUILIBRIUM RELATION OF ECONOMICS TO QS

3. INTRODUCTION TO MICROECONOMICS DEFINITION: Microeconomics (from Greek word= meaning "small")… is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. according to scholars; L. Robbins – “economics is a science that studies human behavior as a relationship between ends and scarce means which have alternative uses”

4. INTRODUCTION TO MICROECONOMICS DEFINITION: according to scholars; K.E Case & R.C. Fair – “economics is a study of how people use their limited resources to fulfil unlimited wants which involves with alternatives uses or choices” David N. Hyman – “economics as a study of how scarce resources are allocated among alternatives uses”

5. INTRODUCTION TO MICROECONOMICS DEFINITION: comparison of micro & macro economics; Microeconomics   focuses on the actions of individual agents within the economy, like households, government, and businesses/firms Macroeconomics   looks at the economy as a whole. It focuses on broad issues such as growth of production, the number of unemployed people, the inflationary increase in prices, government deficits, and levels of exports and imports. 

6. INTRODUCTION TO MICROECONOMICS RESOURCES: Economic resources generally refers to all production factors involves in production process; https://www.youtube.com/watch?v=9ZqkecHnFpc

7. Discuss : why do you think entrepreneur is scarce?

8. INTRODUCTION TO MICROECONOMICS

9. INTRODUCTION TO MICROECONOMICS SCARCITY – CHOICES – OPPORTUNITY COST: scarcity refers to the limited resources of Production Factors (PF) to satisfy/fulfil unlimited wants. thus, choices must be made from the available alternatives Opportunity Cost is resulted from the decision/ choices made priorly. “ defined as the second-best alternative that has to be forgone for another choice made”

10. INTRODUCTION TO MICROECONOMICS SCARCITY – CHOICES – OPPORTUNITY COST:

11. INTRODUCTION TO MICROECONOMICS BASIC ECONOMIC PROBLEMS: limited resources (PF) leads society to decide how to allocate these resources efficiently to produce goods and services to satisfy the needs.

12. INTRODUCTION TO MICROECONOMICS BASIC ECONOMIC PROBLEMS: What To Produce ? Societies need to decide the type & quantity of goods & services that it will produce How To Produce ? Refers to the cheapest method of production & alternatives techniques for production. For Whom To Produce ? This refers to distribution of the goods & services produced. Distribution of economic benefits shall depend on consumers income.

13. INTRODUCTION TO MICROECONOMICS ECONOMIC ANALYSIS: TABLE / JADUAL CURVE / KELUK MATH EQUITIONS / PERSAMAAN MATEMATIK (formula)

14. INTRODUCTION TO MICROECONOMICS PRODUCTION POSSIBILITIES CURVE (PPC): in Bm – Keluk Kemungkinan Pengeluaran PPC is used to explain the concept of scarcity, choices & opportunity cost in economic studies. PPC shows the various possible combination of goods & services produces with all of the resources efficiently engaged.

15. INTRODUCTION TO MICROECONOMICS PRODUCTION POSSIBILITIES CURCE (PPC): https://www.youtube.com/watch?v=O6XL__2CDPU

16. INTRODUCTION TO MICROECONOMICS t o be cont.’