http://swrc.ontoware.org/ontology#Misc BBM 102/05 Microeconomics course guide en Economics Government intervention and market efficiency Firm organisation, production and cost Market structure and market power Factor markets, externalities and public goods Wawasan Open University Microeconomics This course guide introduces economics and its two branches “microeconomics and macroeconomics”. Unit 2 looks at government intervention in the market and the concept of elasticity. Unit 3 focuses on the behaviour of a firm’s production. It first discusses what a firm is, then investigates a firm’s costs and profits from a number of perspectives, and finally looks at the behaviour of firms in competitive markets. Unit 4 extends thediscussion of competitive markets by investigating other types of market structures “monopolies, oligopolies and monopolistic competition”. The last Unit on the other hand, deals with factor markets of labour, capital and land. Electronic Wawasan Open University