Description
Microeconomics continues to convey intermediate concepts of microeconomic theory to students with the use of mathematical and analytical tools. After introduction into the choice under uncertainty, we study production and cost functions, duality in production, profit maximization and firm’s demand for inputs. Next, we will combine theories of the consumer and the producer to study the partial equilibrium competitive model. The course will end with an analysis of the economic efficiency of competitive markets and of the effects of interventions such as price controls, taxes and trade restrictions. The emphasis of the course is also on developing analytical, problem solving and presentation skills.
