Microeconomics (IF1105)

Lecture notes, practice questions, solutions, past exam papers with solutions and all other course material essential to secure a first class is available in this pdf file.

this is an introduction to microeconomics which explains the concept of allocating resources which are scarce. It also explains the opportunity cost of capital. There is a little summary of the difference between Microeconomics and Macroeconomics.

Discussion of Allocative & Technical Efficiency and how they help allocate resources. Comparative Advantage is also explained and how it helps to increase GDP when trade off and specialisation is made to tasks. There is a brief summary of the two types of statements: Normative & Positive. Lastly a brief introduction of Free markets and the role of government within them.