The course introduces the key concepts of microeconomic theory and the principles of economic analysis, which underlie the formation of modern state economic policy.

At the beginning of the course, students will discuss the concept of the market under conditions of perfect competition and the basics of supply and demand. The behaviour of economic agents (households as consumers, firms as producers and employers and individuals as employees) and factors that affect it, including taxes, subsidies and barriers to international trade, will be discussed in more detail.

After a brief review of the theory of general equilibrium and economic efficiency, the problems of market failure (asymmetry of information, non-competitive markets, externalities, public goods) and state intervention mechanisms for solving these problems will be considered.