Course Title: Economics for Accounting 

Course Code: AC 123 

Credit Value: 3 Credits

Contact Hours: 

Lectures: 2 hours/week 

Practical / Tutorials: 2 hours/week

Duration: 15 Weeks (One Semester) 

Prerequisite: Principles of Accounting I or Introduction to Economics

1. COURSE DESCRIPTION

This course introduces students to microeconomic concepts and principles, with a focus on applications in business and accounting contexts. Students learn how markets operate, how firms make production and pricing decisions, and how individual and organisational choices impact financial outcomes.

The course emphasises the practical relevance of microeconomics to accounting decisions, including cost analysis, pricing, budgeting, and financial planning. Students engage in case studies, applied exercises, and problem-solving scenarios to develop actionable insights for accounting and management purposes.

2. COURSE OBJECTIVES

By the end of this course, students should be able to:

• Explain the principles of microeconomics and their application in business.

• Analyse market structures and firm behaviour relevant to accounting decisions.

• Apply supply and demand analysis to pricing and financial planning.

• Evaluate costs, revenues, and profits from a managerial perspective.

• Understand consumer and producer behaviour and their accounting implications.

• Integrate economic reasoning into budgeting, forecasting, and decision-making.

3. LEARNING OUTCOMES

Upon successful completion, students will be able to:

• Describe market mechanisms and price determination.

• Analyse firm production, cost, and revenue structures.

• Apply microeconomic models to real-world business and accounting problems.

• Interpret the economic implications of accounting decisions.

• Use microeconomic reasoning to support budgeting and strategic planning.

• Demonstrate an understanding of applied microeconomics for accounting professionals.