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EC 201 MACROECONOMIC PRINCIPLES

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    • Profile picture
    May 12, 2016
    | Would highly recommend.

    Not too easy. Not too difficult.

    Course Overview:

    This is an intermediate course in microeconomic analysis.

    Course highlights:

    I. Consumer Theory. Utility functions and indifference curves. Income and substitution effects. The Slutsky equation. The expenditure function, compensating and equivalent variation, and consumer surplus. Selected applications to savings and labour supply, including the effects of taxes and benefits. II. Producer Theory. Production and cost functions. Firm and industry supply. Perfect Competition and Monopoly. III. Strategic Choice. Basic ideas in game theory. Applications to oligopoly and auctions. IV. General equilibrium and welfare. Competitive equilibrium. Efficiency of equilibrium. Welfare criteria. V. Topics in welfare economics. Public goods and externalities. VI. Uncertainty and information. Choice under uncertainty. Insurance markets. Asymmetric information. Loss Aversion. Moral Hazard.

    Hours per week:

    6-8 hours

    Advice for students:

    Math background is pretty important here.

    • Spring 2015
    • Staff
    • Yes


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