INTERMEDIATE MICROECONOMICS*

概要

Prerequisite: IBE200 Principles of Microeconomics. Students must have solid understanding of microeconomics principles. This course aims to provide a solid understanding of basic microeconomic theory and the ability to assess economic outcomes and give policy advice. We progress from the study of the optimising behaviour of individual actors (both consumers and producers) in an economic setting, to a study of the interaction of these agents in one market (partial equilibrium analysis) through to a study of the determination of prices and the allocations of resources and goods in the economy as a whole (general equilibrium analysis). As well as covering the main elements of the standard price theory for (perfectly) competitive markets, along the way, if time permits we shall also consider situations where there are only a small number of competitors on one or both sides of a market. Such imperfectly competitive markets are better modelled as situations where agents interact strategically and their treatment in this course shall involve an introduction both to the theory of games as well as topics in information economics.

目標

Students who successfully complete this course should be able to: 1. Describe the (mainstream) neoclassical economic theory of consumer and producer behaviour; 2. Apply economic concepts to solve for choices made by consumers and producers; 3. Assess the economic efficiency of market outcomes for different market structures, in the presence of externalities, and/or when influenced by government intervention; AND 4. Proceed to the study of economic courses that have IBE311 as a pre-requisite.

授業外の学習

Preparation of class materials (30 minutes). Work on questions from class and do quizzes (120 minutes) Review class lecture (40 minutes)

所要時間: 190 minutes per lecture.