This Course aims to provide a solid foundation of microeconomic and macroeconomic theory. It provides students with an understanding of basic economic principles, theories and models which they can use and apply in their future studies.
On successful completion of this course, a student will be able to:
1) Knowledge & Understanding
i) Explain the nature of economic enquiry and the basic economic problem.
ii) Demonstrate an understanding of the role and functioning of markets.
iii) Demonstrate an understanding of the nature of production and the costs of production.
iv) Demonstrate an understanding of how firms determine price and output under conditions of perfect competition and monopoly.
2) Transferable Skills
i) Present findings and explaining complex data, producing written documents.
ii) Handle data and applying mathematical and statistical analysis methods to this data.
iii) Analyze research methods, data, conclusions and recommendations.
3) Intellectual Skills
i) Apply Abstraction – balancing simplification against relevance.
ii) Apply Logical Deduction – in relation to cause and effect.
iii) Use the appropriate theoretical framework to analyze an economic problem or issue.
Riphah International University, Islamabad is a private University, chartered by the Federal Government of Pakistan in 2002. The University was established with a view to produce professionals with Islamic moral and ethical values. It is sponsored by a not-for-profit trust; namely Islamic International Medical College Trust (IIMCT), created in 1995. The first project of the IIMCT was the Islamic International Medical College, Rawalpindi, established in 1996 by its Founding Managing Trustee; Maj. Gen. (Retd.) Muhammad Zulfiqar Ali Khan, TI(M), TBt (Late).
Currently the University has 7 faculties and various academic departments and an overseas project, namely, RAK College of Dental Sciences, UAE. The University is also working on establishment of its campus in Mauritius.