Microeconomics I

Description

Microeconomics I is the first course in a two mini-term microeconomic sequence and provides an extensive treatment of consumer theory and choice under uncertainty. The course will focus on concepts such as consumer preferences, utility maximization, individual demand functions and market demand functions,households’ labor supply decisions. In addition, students will learn about decisions under uncertainty, risk attitudes and expected utility. It is assumed that students are familiar with the mathematical techniques like derivatives. The material covered in this course will provide students with the background required in many other areas of economics. It should also help them to understand a broad range of economic issues regarding the allocation of resources in a society.