To identify factors that determine the supply To differentiate individual and

# To identify factors that determine the supply to

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To identify factors that determine the supply. To differentiate individual and market supply. To explain how equilibrium price and quantity are determined in the market. 3 Lecture Class discussions LCD Power Point White Board/ Visualizer Grace et.al; Chapter 3 (pg. 23-44) Arnold; Chapter 3 (pg.65 – 102) Case, Fair & Oster; Chapter 3 (pg. 79 – 109) Consumer surplus: Grace et.al; Chapter 6 (pg. 81-93) 2 WEEK TOPIC / SUB-TOPIC OBJECTIVES HRS METHOD TEACHING AIDS NOTES 3.4 Changes in Market Equilibrium 3.5 Consumer and producer surplus To explain the effect of demand and supply curve shifts on price and quantity equilibrium. To identify the area of consumer and producer surplus. 3 (22/9/2019 26/9/2019) Chapter 4: Elasticity 4.1 Price Elasticity of Demand 4.1.1 Formula for Calculating Elasticity – Average Approach 4.1.2 The Degree of Elasticity 4.1.3 Elasticity and Total Revenue 4.1.4 The Determinants of Elasticity 4.2 Income Elasticity of Demand 4.3 Cross Elasticity of Demand 4.4 Price Elasticity of Supply 4.4.1 Formula for Calculating To calculate and to interpret the price elasticity of demand and the elasticity point formula. To explain the degree of price elasticity of demand. To explain the price elasticity of demand determinants. To calculate the income elasticity of demand. To identify the types of goods from value of income elasticity of demand. To calculate the cross elasticity of demand. To identify the types of goods from value of cross elasticity of demand. . To calculate the price 3 Lecture Class discussions Online learning LCD Power Point White Board/ Visualizer Grace et.al; Chapter 4 (pg. 45-61) Arnold; Chapter 20 (pg. 501 – 530) Case, Fair & Oster; Chapter 5 (pg. 129 – 147) 16/9 (MONDAY) – HARI MALAYSIA 3 WEEK TOPIC / SUB-TOPIC OBJECTIVES HRS METHOD TEACHING AIDS NOTES Elasticity – Average Approach 4.4.2 The Degree of Elasticity 4.4.3 The Determinants of Elasticity elasticity of supply. To explain the degree of price elasticity of supply. To explain the price elasticity of supply determinants. 4 (29/9/2019 – 3/10//2019) Chapter 5: The Theory of Consumer Behavior (Consumer Choice) 5.1 Conceptual of Utility 5.2 Cardinal Utility Theory 5.2.1 Total and Marginal Utility 5.2.2 The Law of Diminishing Marginal Utility 5.2.3 Consumer Equilibrium – Mathematical Method 5.3 Ordinal Utility Theory 5.3.1 The Budget Line/Constraint: Definition, slope and changes 5.3.2 The Indifference Curve: Definition, slope, characteristic and changes 5.3.3 Consumer Equilibrium – Graphical Method and changes To define the conceptual of utility. To explain the concept of total utility and marginal utility. To explain the law of diminishing marginal utility. To equate marginal utilities per price. To explain consumer equilibrium conditions and determine the quantity of output at consumer equilibrium.  #### You've reached the end of your free preview.

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