List of concept - The cost minimization problem Cost...

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List of concepts Chapter 1 What is Microeconomics? Cost Benefit logic Opportunity costs Chapter 2 Demand and supply in perfectly competitive markets Taxation (on consumers, producers, implications of price, tax incidence) Chapter 3 The consumer’s problem / rational choice Preferences (convexity, transitivity, completeness etc) Consumer’s choice Chapter 4: Analyzing consumer’s choice Income and substitution effects of price changes Normal goods, Inferior goods, Giffen goods From individual to market demand (aggregating demand curves) Price-elasticity of demand Elasticity as a general concept Chapter 9: Production Production technology (no input no output, convexity etc) Production function Increasing, Constant / Decreasing returns to scale Chapter 10
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Unformatted text preview: The cost minimization problem Cost functions Chapter 11: Perfect competition The firm’s problem The individual supply curve Aggregating individual supply curves The (market) supply curve Price elasticity of supply SR perfectly competitive equilibrium LR perfectly competitive equilibrium Chapter 12: Monopoly Single good, one price Price discrimination Single good, third-degree price discrimination Single good, second-degree price discrimination Multiple goods, bundling Chapter 13: Oligopoly The Cournot model The (Von) Stackelberg model The Bertrand model Game theory Throughout the course: Normative matters Surplus/Welfare, Consumer surplus, Producer surplus Welfare loss / Deadweight loss Performance of markets: Perfect competition, Oligopoly, Monopoly...
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List of concept - The cost minimization problem Cost...

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