Intermediate microeconomics 1 and 2

Part 1:

The intermediate microeconomics courses formalise the fundamental concepts that form the basis of modern microeconomics.

The main objective is for you to acquire the analytical skills and tools that are necessary for economic analysis. After this course you will be better equipped to appreciate and to assess the economic issues in the society.

This course is devoted to the theory of the behaviour of individual agents in the economy. In particular, we will study the behaviour of consumers and firms, and how they interact in competitive markets.

Complex economic relations will be synthesized into simple and manageable theoretic models.

(a) introduction to microeconomics

• analyzing economic problems
• supply and demand analysis

(b) consumer theory

• consumer preferences and the concept of utility
• consumer choice
• the theory of demand 

(c) production and cost theory 

• inputs and production functions
• costs and cost minimization
• cost curves

(d) perfect competition 

• perfectly competitive markets 
• competitive markets: applications  

Part 2:

This course is an extension of intermediate microeconomics, part 1. You will study topics including analysis of the different market structures, monopoly and monopsony and oligopoly.

To understand the latter, a brief introduction to game theory will be offered. Further topics should include risk and information, general equilibrium and externalities and public goods.