JOMO KENYA UNIVERSITY OF AGRIC. AND TECHNOLOGY
DEPARTMENT : PROCUREMENT AND LOGISTICS
UNIT : HPS 2109: MICROECONOMICS
PRE-REQUISITES : NONE _____________________
Instructor: Zackayo O. Omolo
Meets: Friday
Contacts: E-mail:
0722697380
Purpose of the course
By the end of the course the student should have a good understanding of individual, market and firm behaviour so
as to be able to effectively and profitability work in a given environment.
Course Outcomes
To help the student think as an economist or business person using various economic concepts and
principles.
To develop the ability to identify the principles of microeconomics, their contribution and limitations.
To understand consumer and producer behaviour by focusing on the decision-making process of firms and
individuals.
To identify and understand the different types of market structures and their implication on consumer
welfare.
Course Content
Nature and scope of economics; Central economic concepts, scarcity, choice, opportunity cost. Economic systems;
Concepts of demand and supply; Elasticity of Demand and Supply; Consumer theory: Cardinalist and Ordinalist
approaches; Theory of the firm: law of variable proportions, law of increasing and decreasing returns to scale,
theory of costs, optimum size of the firm, theory of the firm, profit maximisation; Intermediate theory of the firm
and application of the mathematical approach; Market structures, perfect competition, imperfect competition,
monopoly. Theory of general equilibrium and welfare economics. Public goods and externalities; An intermediate
theory of factor markets; Theories of distribution, rent, interest and profit.
Teaching Methodology
Lecture, problem-based learning, instructor-facilitated discussions, class presentations by students, guest speakers,
video/CD-ROM presentations
Assessment
Assessment of the student’s progress shall assume the following dimensions:
1. Assignments 10%
2. CAT 10 %
3. Group Project Presentation 10 %
4. End of Semester Exam 70 %
Total 100 %
Academic Policies
1. Attendance & Class Participation: students are expected to attend all classes to be eligible for
an “A” grade pass in this course. Student must make sure they read the required texts and
articles before the class to meaningfully participate during class.
2. Assignments: All assignments must be turned in at the beginning of the class period on the date stipulated. Late
submissions will be penalized 10% for each day late up to 3 days.
3. Group Project Presentation: An addendum that stipulates the nature of this project will be
DEPARTMENT : PROCUREMENT AND LOGISTICS
UNIT : HPS 2109: MICROECONOMICS
PRE-REQUISITES : NONE _____________________
Instructor: Zackayo O. Omolo
Meets: Friday
Contacts: E-mail:
0722697380
Purpose of the course
By the end of the course the student should have a good understanding of individual, market and firm behaviour so
as to be able to effectively and profitability work in a given environment.
Course Outcomes
To help the student think as an economist or business person using various economic concepts and
principles.
To develop the ability to identify the principles of microeconomics, their contribution and limitations.
To understand consumer and producer behaviour by focusing on the decision-making process of firms and
individuals.
To identify and understand the different types of market structures and their implication on consumer
welfare.
Course Content
Nature and scope of economics; Central economic concepts, scarcity, choice, opportunity cost. Economic systems;
Concepts of demand and supply; Elasticity of Demand and Supply; Consumer theory: Cardinalist and Ordinalist
approaches; Theory of the firm: law of variable proportions, law of increasing and decreasing returns to scale,
theory of costs, optimum size of the firm, theory of the firm, profit maximisation; Intermediate theory of the firm
and application of the mathematical approach; Market structures, perfect competition, imperfect competition,
monopoly. Theory of general equilibrium and welfare economics. Public goods and externalities; An intermediate
theory of factor markets; Theories of distribution, rent, interest and profit.
Teaching Methodology
Lecture, problem-based learning, instructor-facilitated discussions, class presentations by students, guest speakers,
video/CD-ROM presentations
Assessment
Assessment of the student’s progress shall assume the following dimensions:
1. Assignments 10%
2. CAT 10 %
3. Group Project Presentation 10 %
4. End of Semester Exam 70 %
Total 100 %
Academic Policies
1. Attendance & Class Participation: students are expected to attend all classes to be eligible for
an “A” grade pass in this course. Student must make sure they read the required texts and
articles before the class to meaningfully participate during class.
2. Assignments: All assignments must be turned in at the beginning of the class period on the date stipulated. Late
submissions will be penalized 10% for each day late up to 3 days.
3. Group Project Presentation: An addendum that stipulates the nature of this project will be
