Microeconomics

Learning Outcomes

On successful completion of this course, students will be able to: Explain market and prices, supply-demand factors, Explain market structure and competitive strategy, Calculate market equilibrium, production cost, revenues and profits, Explain market failures and government roles.

Topics

1. Markets and Prices: Introduction, The Basics of Supply and Demand, Producers, Consumers
2. Competitive Markets: Individual and Market Demand, Producers, Consumers, Production, Producers, Consumers, Profit Maximization and Competitive Supply, Producers, Consumers, The Cost of Production, Producers, Consumers,  Consumer Behaviour, Producers, Consumers, Consumer Behaviour, Producers, Consumers, The Analysis of Competitive Market
3. Market Structure and Competitive Strategy: Market Power (Monopoly and Monopsony), Market Structure, Pricing and Market Power, Monopolistic Competition and Oligopoly, Game Theory and Competitive Strategy, Markets for Factor Inputs, Investment, Time, and Capital Markets, Information, Market Failure
4. The Role of Government: General Equilibrium and Economic Efficiency and Externalitas and Public Goods, Information, Market Failure, Market with Asymentric Information