1. Discuss Four Building Blocks for Achieving Competitive Advantage in an Organization.

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PRINCIPLES OF MICROECONOMICS
No: 12
PED 1113

1.| Name of Subject | PRINCIPLES OF MICROECONOMICS|
2.| Code of Subject| PED1113|
3.| Synopsis| This course will give students good exposure to basic economic concepts. They need to be able to understand, analyse and implement the theoretical conceptual into the existing economic situation.| 4.| Name of Teaching Staff | Rezal Adnanrezal_adnan@yahoo.com| 5.| Semester and Year Offered| Year 1, Sem 1 |

6.| Credit Value | 3 credits (2 hours lecture and 1.5 tutorial) | 7.| Prerequisite (if any) | Nil|
8.| Rationale for the inclusion of the subject in the program | The need for economics knowledge in all fields of studies.| 9.| Mode of Delivery| Lecture and Tutorial|
10.| Subject Objectives| To equip students with basic economics knowledge so as to be able to apply in day to day tasks. Able to understand and analyse economics theories and conceptual.| 11.| Learning Outcomes| Upon completing this course, students will be able to: 1. Understand the basic concept of economics. 2. Apply the concepts demand and supply to identify how market reached its equilibrium position. 3. Identify various coefficients in elasticity and understand how rational consumers behave. 4. Identify the production process and how cost is determined. 5. Understand various market structures and its profit position both in the short and long run.|

12.| Transferable Skills| From this course, students will acquire additional transferable skills namely: * Analytical Skill – students were given questions and analyse the outcome that arises due to the situation given. * Research skills – Students are required to conduct assignment on selected topics either individually or in groups. * Social skills – Students will develop basic social skills through class discussions and group assignments. * Time-management skills– Students will learn to practice and manage their time to balance between their academic and social responsibilities. * Critical thinking skills– Students will develop critical thinking ability through coursework completion, problem solving exercises and class discussions.| 13.| Teaching Learning and Assessment Strategy |

| Teaching & Learning Methods| Assessment Strategy | | Discussion| /| 1. Peer evaluation 2. Student assessment feedback| | Problem solving| | 3. |
| Case study | /| |
| Project | /| |
| Lecture| /| |
| Tutorial | | |
14.| Assessment Method and Types | Final Examination : 40%Course Work : 60%Course work comprises of the following items : - 2 Test : 30% - 4 Quizzes : 20% - Group Assignment : 10%|

| Content outline of the course/module and the SLT per topic| | TOPIC (S)| Lecture| Tutorial| Lab/ Practical| Independent Study| Student Learning Time (SLT)| | 1.0 INTRODUCTION TO ECONOMICS 1.1 Basic economic concepts: scarcity, choices and opportunity cost. 1.2 Basic economic problems 1.3 Economics system comprises free market, planned economy and Mixed economy.| 2| 1.5| | 5| 18| | 1.0 Demand, Supply and Market Equilibrium. 1.1 Demand 1.2.1 Definition of demand 1.2.2 Law of demand 1.2.3 Market demand curve 1.2.4 Determinants of demand 1.2 Supply 1.3.5 Definition of supply 1.3.6 Law of supply 1.3.7 Market supply curve 1.3.8 Determinants of supply 1.3 Market Equilibrium 1.4.9 Definition of equilibrium 1.4.10 Condition of equilibrium 1.4.11 Changes in demand and supply| 8| 6| | 20| 28| |...
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