Year of entry: 2020
- View tabs
- View full page
Course unit details:
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 1|
|Available as a free choice unit?||Yes|
The aim of this course is to provide a formal (mathematical) introduction to some of the main principles and ideas of modern microeconomic analysis.
At the end of this course, students should be able to demonstrate a graduate-levelunderstanding of the main microeconomic concepts covered during the term, as well as the tools and the modelling techniques used to represent economic behaviour. The students should also be aware of how and when to apply the various existing models, as well as the main limitations of them.
1. Consumer Theory: utility maximization; first order conditions; Walrasian (Marshallian) demands;
expenditure minimization; first order conditions; Hicksian demands; Slutsky equation; substitution (income)
effect; normal (inferior) good; demand slope (response to price change).
¿ Jehle, G., Reny, P. Advanced Microeconomic Theory. Pearson 3rd ed. (2011), Ch. 1 & 2.
¿ Mas-Collel, A., Whinston, M., Green, J. Microeconomic Theory. Oxford Univ. Press (1995), Ch. 3.
2. Producer Theory: cost minimization; first order conditions; conditional input demands; competitive firm;
Lectures and Tutorials 85% final exam 15% midterm test Timetable
Teaching and learning methods
Scheduled activity hours
Independent study hours
Lectures: Friday 3pm-5pm,
Tutorials: Friday 5pm-6pm,
Lectures and Tutorials
85% final exam
15% midterm test