A study on how market operates is the basis to microeconomics theory and understanding how market operation is important in order to understand how our economy system is functioning. While forming a coherent view on the economic reality, microeconomics provides techniques that may increase the role in developing public policy and individual decision-making. Other than the fundamental topics in understanding the operation systems of Malaysian economy and its relationship with the development of public policy, other topics that will also be discussed are the elasticity of demand, system of economy, theory and cost of production, and advantage and disadvantages of a different market structure.
Skill Level: Beginner