Intermediate Microeconomics
This course is aimed to provide a fundamental knowledge in the models of economic agents decision-making . The course is divided into two parts: consumer theory and firm theory. Each part logically describes the principles of rational decision-making that leads to the market equilibrium. After the course, students will know the main drivers of the demand and supply decisions, will be able to predict the consequences of governmental policies for the market equilibrium.
The goal of mastering the discipline
This course is aimed to provide a fundamental knowledge in the models of economic agents decision-making
The skills you get
- Students will be able to explain how consumers make their choice
- Students will be able to explain how firms make their production decisions
- Students will be able to predict how different factors affect the market equilibrium
Topics covered
- Part 1. Consumer theory. Topic 1. Budget constraint; Topic 2: Preferences; Topic 3: Utility, Topic 4: Choice, Topic 5: Demand, Topic 6: Slutsky equation, Topic 7: Intertemporal choice
- Part 2. Firm theory. Topic 8: Technology; Topic 9: Profit maximization; Topic 10: Cost minimization; Topic 11: Cost curves; Topic 12: Firm supply; Topic 13: Monopoly; Topic 14: Oligopoly; Topic 15. Exchange
When instructed
- 2nd year, 1st semester
List of references and sourses
Varian, Hal R (2014). Intermediate microeconomics : a modern approach. New York :W.W. Norton & Company,
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