Principles of microeconomics

What it covers

This unit introduces the core principles of microeconomics and how they explain decision-making by individuals, firms and governments. You will learn key tools such as supply, demand and market equilibrium, and apply them to everyday economic situations. The unit then examines consumer behaviour, firm production and cost decisions, and how different market structures shape prices, output and strategic choices. You will also be introduced to more advanced topics, including consumer choice theory, behavioural economics and game theory. Throughout the unit, you will use economic reasoning and graphical analysis to interpret real-world issues—such as policy design, inequality and global market differences—developing skills for evidence-based decision-making in business and economics.

Assessment

When and where