Credits: 6
Schedule: 11.03.2019 - 29.03.2019
Learning Outcomes (valid 01.08.2018-31.07.2020):
Learning outcomes for this course, upon successful completion, include the ability to:
1) apply standard microeconomic tools to explain and predict the behavior of individual consumers and firms, 2) apply microeconomic theory to explain market structures and the behavior of firms within specific industries, and 3) compare how markets are organized under perfect competition versus a monopoly, duopoly or oligopoly and the outcomes of decisions made in these markets.
Content (valid 01.08.2018-31.07.2020):
This course builds on the basic knowledge gained in an introductory economics course and develops further microeconomic topics and theories using standard microeconomic models. The topics covered include: consumer theory, utility and indifference curve analysis; the theory of the firm and cost analysis; market structures, including models of monopoly, duopoly and oligopoly; and pricing strategies. The course will also introduce students to public economics and the concept of externalities. The efficient allocation of resources is emphasized throughout the course.
Prerequisites (valid 01.08.2018-31.07.2020):
basic course in economics