4121 Introduction to Microeconomics

Course Description

Introduction to Microeconomics is an introductory level course covering the principles of production and consumption – and the exchange of goods and services – in a market economy. In particular, it compliments economic courses in the faculty by highlighting the various market mechanisms that influence managerial decision-making. The decisions of various economic agents will be analyzed in terms of the individual interests of these agents, and also in terms of the societal impact these decisions might have. The course has been developed such that it yields insights into the logic of managerial decision-making, and the rationale for the various restrictions imposed upon private sector activities by different levels of government.

 

Learning Objective

  • Consumer theory: How households make decisions in the face of scarcity and how these decisions vary in response to changes in the economic environment.
  • 2. Firm theory: How firms make decisions in the face of scarcity and how these decisions vary in response to changes in the economic environment
  • 3. The organization of markets: How perfectly competitive, monopolistic, monopolistically competitive, and oligopolistic markets are organized and the outcomes of these markets.

Credits

    3

Books for this Course

  • Microeconomics By Robert S. Pindyck & Danial L. Rubinfield (2012)
  • Microeconomics By David Besanko, Ronald Braeutigam (2010)

Times Offered

  • September 2015
  • January 2016

Course Prerequisite

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