Course ObjectiveYou will study the basic concepts of microeconomics concerning consumer
and producer behavior is market equilibrium. You will develop skills to
apply the relevant microeconomic theories to current economic concerns
(Academic Skills). Therefore, the following goals are important:
- you obtain basic knowledge on how individuals consumers and producers
should act to maximize utility and profit (Bridging Theory and Practice
- you obtain insight in how equilibrium quantities and prices are
determined in different market structures such as competition, monopoly
and oligopoly (Bridging Theory and Practice - Knowledge and Research
- you learn how to apply a welfare analysis on the benefits and
restrictions of the different market structures and the impacts of
external influences (Bridging Theory and Practice - Knowledge and
- you obtain insight in the policy instruments of governments to
interfere in case of market failure (Bridging Theory and Practice -
- you learn about auction mechanisms and the impact of uncertainty on
consumer behavior (Bridging Theory and Practice - Applications).
Course ContentThis course considers rational consumers and producers, that maximize
- under some conditions - their utility and profits, respectively. This
paradigm is used to derive supply and demand curves, which are used to
analyse market equilibrium. Within different market structures
(competition, monopoly, oligopoly) the price setting in equilibrium is
studied. Also settings are considered where markets fails. In addition,
attention is devoted to uncertainty, auctions, market power and the role
of the government.
Method of AssessmentExam - individual grading.
Midterm exams - individual grading.
LiteratureGoolsbee, A., S. Levitt and C. Syverson, Microeconomics, Worth
Recommended background knowledgeQuantitative Research Methods I
|Language of Tuition||English|
|Faculty||School of Business and Economics|
|Course Coordinator||prof. dr. B. van der Klaauw|
|Examiner||prof. dr. B. van der Klaauw|
dr. S. Dobbelaere
prof. dr. B. van der Klaauw
You need to register for this course yourself
Last-minute registration is available for this course.
|Teaching Methods||Lecture, Study Group|
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