Introduction to Microeconomics

2019-2020

Course Objective

This course covers the main theoretical concepts in consumer choice,
firm behavior and analysis of imperfectly competitive markets. These
methods are often used in economic research to assess the effectiveness
of economic policy.

Specific learning outcomes upon completion of this curricular item are
• being able to understand the relevance of economics for modern
societies
• acquiring knowledge in the decisions to be taken by individual
consumers and producers to maximize utility and profit
• gaining insight into the determination of the equilibrium outcomes in
different market structures
• analyzing firm behavior in monopolistic and oligopolistic markets
• being able to evaluate public economic policy, including competition
law, aimed at correcting market failures in imperfectly competitive
markets
• understanding the impact of various forms of asymmetric information on
economic transactions
• learning about the tools that governments might use for addressing
market failures

Course Content

This course focuses on fundamental microeconomic theory and
applications.
The course discusses the main theoretical concepts and policy
applications in microeconomics. Applying economic tools of analysis
helps students to gain an understanding of how decisions are being made
at the micro level by firms, consumers and government. Microeconomics
also helps evaluating observed outcomes and the consequences of policy
choices. In particular, we cover consumer and producer behavior, game
theory, market structures (perfect competition, monopoly, oligopoly) and
market imperfections. The role of policy will be discussed throughout
the course.

Teaching Methods

Lectures and seminars

Method of Assessment

Written final exam (80%) and written group assignments (20%)

Entry Requirements

Students are strongly advised to follow Math Refresher in the last week
of August.

Literature

Banerjee, S., 2015: Intermediate Microeconomics: A tool-building
approach. Routledge (ISBN 9780415870054)
Additional readings (to be specified).

General Information

Course Code E_EC_INTRMIE
Credits 3 EC
Period P1
Course Level 400
Language of Tuition English
Faculty School of Business and Economics
Course Coordinator dr. E.I. Motchenkova
Examiner dr. E.I. Motchenkova
Teaching Staff dr. E.I. Motchenkova

Practical Information

You need to register for this course yourself

Last-minute registration is available for this course.

Teaching Methods Study Group, Lecture
Target audiences

This course is also available as: