Individual economic units and equilibrium conditions for the economy as a whole understanding of the economic functioning of the understanding, explanation of the causes and consequences of international trade relations and economic examination of the dynamics of the growth process.

Basic Concepts of micro-economics: the need of goods and services, consumption, production, production factors and economic units. Price Theory: Supply and demand. Consumer Theory: Indifference curves, budget line, the marginal rate of substitution, consumer equilibrium and changes in consumer equilibrium. Producer Theory: Co-product curves, iso-cost line, the marginal rate of technical substitution, changes in the balance of producers and manufacturers balance. Firms in perfect competition and imperfect competition market balance.