Analyzes basic supply and demand relationships using formal models
Discusses the functioning of different markets
Analytically examines market failures and their solutions
Mode of Delivery
Face to face
Prerequisites
Yes(ECO101)
Recommended Optional Programme Components
Course Description
This course presents the basic analytical tools of microeconomics. It describes decision making process of individuals and how these decisions are optimized by using consumer and firm theory. Main concepts of the course are consumer preferences, utility maximization, comparative statics, market demand, pure Exchange, production technology, theory of cost, perfect competition, economic efficiency, and general competitive equilibrium.
Course Contents
WEEK
TOPICS
1st Week
Supply and Demand (pp.34-54)
2nd Week
Supply and Demand (pp.54-79)
3rd Week
A Consumer's Constrained Choice (pp.86-103)
4th Week
A Consumer's Constrained Choice (pp.103-114)
5th Week
A Consumer's Constrained Choice (pp.114-124)
6th Week
Demand (pp.129-142)
7th Week
Midterm
8th Week
Demand (pp.143-162)
9th Week
Consumer Welfare and Policy Analysis (pp.166-196)
10th Week
Firms and Production (pp.201-229)
11th Week
Costs (pp.233-254)
12th Week
Costs (pp.254-267)
13th Week
Competitive Firms and Markets (pp.272-295)
14th Week
Competitive Firms and Markets (pp.295-308)
Recommended or Required Reading
Perloff, J. M. (2021) Microeconomics: Theory and Applications with Calculus, Fifth edition (Global edition.), Pearson, England
Planned Learning Activities and Teaching Methods
Lecture
Questions/Answers
Problem Solving
Discussion
Assessment Methods and Criteria
Quantity
Percentage (%)
Mid-term
1
30
Quiz
1
5
Attendance
1
15
Total(%)
50
Contribution of In-term Studies to Overall Grade(%)
50
Contribution of Final Examination to Overall Grade(%)
