The economic theory of choice, price determination and the market system
On this course, you will learn basic concepts of microeconomic theory, such as choice, price determination, and the importance of the market system for the allocation of resources. You will investigate consumer behaviour in certain and uncertain conditions, and look at how the structure of the market affects social welfare and the allocation of the market surplus, as well as how government policies can affect the behaviour and choices of consumers and companies. The course also examines concepts such as collective goods, external effects and asymmetric information and explains their use in the analysis of microeconomic theory.
The course consists of lectures and seminars and is assessed using written examination and take-home assignments.