Microeconomics 200

Learning Outcomes

Upon successful completion of this course, students are expected to be able to explain and apply the standard analysis of consumer behavior and consumer demand; explain and apply the standard analysis of producer/firm behavior; explain and apply the central concepts of game theory; explain and apply the central concepts of market failure; apply microeconomic models and concepts to analyze real world market situations; demonstrate effective written skills by applying microeconomic theory to analysis market issues; demonstrate effective verbal and interpersonal communication skills through active participation in tutorial discussions; organize and synthesize information from a range of sources; apply critical, logical and rational thinking processes to evaluate of microeconomic problems at an intermediate level.

Topics

This course introduces basic topics in microeconomics: utility and preference, consumer choice, applications and extensions of consumer choice theory, production and cost, the firm and the industry, market structures, game theory, factor markets and distribution of income, market failure, asymmetric information, externalities and public goods.

Prerequisite : AC114 – Economics Theory