Foundations of Microeconomics


Course Objective

Bridging Theory and Practice - Knowledge:
Know the basics of microeconomics. See topics above.

Bridging Theory and Practice - Application:
At the end of the course you:
(1) can abstract from irrelevant details;
(2) can apply economic concepts and theory to analyze concrete problems;
(3) are able to interpret economic news;
(4) distinguish between correlation and causal effect.

Course Content

Topics to be discussed are:
• Consumers, sellers and Incentives;
• Perfect competition, Trade;
• Externalities and public goods;
• Labor market/ human capital/unemployment;
• Economics of Information;
• Game theory/ Auctions;
• Socio/behavior economics.

Teaching Methods

Lectures and tutorials

Method of Assessment

Grade is average of problem sets (30 %) and written examination (70%),
with written exam grade of at least 5.0.

Entry Requirements

Basic knowledge of math and statistics, as provided in the academic core
of any academic program at the Vrije Universiteit Amsterdam or


Acemoglu, Daron, David Laibson and John A. List, 2016, Economics,
Harlow, Essex, Pearson Education Ltd. ISBN 13: 978-1-292-07920-2, incl.
access code MYECONLAB.

Target Audience

Third-year bachelor students of any major (except Economics and

Additional Information

This course is an integral part of the University Minor Economics;
participants are strongly advised to attend the entire minor in
economics program. Completing the entire program can give access to the
Msc in economics program

General Information

Course Code E_ME_FM
Credits 6 EC
Period P1
Course Level 100
Language of Tuition English
Faculty School of Business and Economics
Course Coordinator prof. dr. P.A. Gautier
Examiner prof. dr. P.A. Gautier
Teaching Staff

Practical Information

You need to register for this course yourself

Teaching Methods Lecture, Study Group
Target audiences

This course is also available as: