Intermediate Microeconomics I

Course Code: 
ECON2000

Objective: This course presents the neoclassical theory of markets under the assumption of perfect competition. It bases the analysis of the forces of demand and supply on the theory of the utility maximizing consumer and the theory of the profit-maximizing firm respectively. The emphasis is on partial equilibrium analysis with some exposure to the method of general equilibrium analysis.

 

The course outlines: Theory of the Consumer (Budget Constraint, Preferences, Choices, Demand, Revealed Preference, Slutsky Equation, Endowment Effects, Inter-temporal Choice, Uncertainty, Risky Assets, Consumer's Surplus, Market Equilibrium, Market Demand and Elasticity, Equilibrium and Taxes.

Semester: 
Semester 1
Semester 2
Pre-Requisites: 
ECON1012 & (ECON1003 or ECON1004 or MATH1142) or (MATH0100 & MATH0110) (Anti-requisite: MGMT2020)
Department: 
Economics