AGEC 211 — Microeconomics (Principles and Applications to Households and Firms)
Agriculture · University of Ghana
Overview of Economics. The Economic Problem. Branches of Economics. Overview of Microeconomics: Nature, Use and Limitations. Concept of a Final Good. Concept of an Intermediate Good. Concept of a Market. The Market Mechanism. Shortage and Surplus in a Market. Effects of Demand and Supply Shift Factors on Equilibrium Quantity and Equilibrium Price. Final Goods Markets. Intermediate Goods Markets. Concept of Elasticity. Supply and Demand Elasticities for Final Goods Markets and Intermediate Goods Markets. Consumer Choice: Utility Curve, Utility Surface, Indifference Curve and Indifference Surface. Rate of Commodity Substitution. Budget Line. Consumer Equilibrium and Derivation of Consumer Demand Curve for Final Goods. Income and Substitution Effects. Producer Choice: Concept of a Production Function. Well-behaved Production Curves and Surfaces. Isoquant Curves and Surfaces. Marginal Rate of Technical Substitution. Production Elasticities. Isocost Curves and Surfaces. Objectives of Producers: Output Maximisation, Cost Minimisation, Profit Maximisation. Equilibrium of the Producer and Factor Demand Curves. Product Supply Curves and Surfaces. The Structure of Markets: Competition, Monopoly, Oligopoly and Monopsony. Agricultural Economics as an Applied Discipline. The Structure of Agriculture in Ghana. Government Policy and Agriculture in Ghana.
- Credits
- 3
- Level
- Level 200
- Semester
- Semester One
Other courses on this programme
- AGEC 212 — Macroeconomics (Principles and Applications to Economy of Ghana)
- AGEN 201 — Agriculture Engineering II
- AGEX 204 — Vacation Rural Community Experience
- AGEX 206 — Approaches to Extension
- AGEX 211 — Food Safety and Quality Standards
- AGEX 213 — Rural Development and Participatory Methodologies
- AGEX 415 — NGO Development and Management
- AGRC 200 — Long Vacation Practicals
- AGRC 212 — Introductory Statistics
- ANIM 212 — Elements of Microbiology and Immunology
- ANIM 418 — Animal Health and Physiology
- ANIM 419 — Meat Science and Technology
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Start freeCourse details from University of Ghana Volume 3 Handbook for the Bachelor's Degree: Course Descriptions for Programmes in the Sciences (2017).