2017/18
27410 - Microeconomics I
Compulsory
5.3. Syllabus
The syllabus of the course is in line with the established learning outcomes and is detailed below:
Part I: Introduction
1. Economics: Definition and scope
1.1. Topics in Microeconomics
1.2. Agents, rationality and equilibrium
Part II: Consumer demand theory
2. Preferences, utility and budget constraint
2.1. Comsumption set and preferences
2.2. Utility function
2.3. Marginal rate of substitution
2.4. Budget constraint
3. Consumer behavior
3.1. Equilibrium
3.2. Individual demand function
3.3. Demand curves and Engel curve
3.4. Price elasticities and income elasticity
3.5. Classification of goods and demands
4. Individual and aggregate demand functions
4.1. Substitution and income effects
4.2. Consumer surplus
4.3. Adding invidual demands
5. Extensions
5.1. Revealed preference
5.2. Labor-leisure choice
5.3. Intertemporal choice
5.4. Uncertainty
Parte III: Firm theory
6. Production
6.1. Production set and production function
6.2. Technical rate of substitution
6.3. Returns to scale
6.4. Average product and marginal product
7. Cost minimization and profit maximization
7.1. Cost minimization
7.2. Conditional factor demand functions
7.3. Cost function
7.4. Short run and long run costs
7.5. Profit maximization