1. Introduction to the Study of Intermediate Microeconomics
2. Consumer Choice
- Income-Consumption Curve, Engel Curve, Engel Expenditure Curve, Income Elasticity of Demand
- Price-Consumption Curve. Substitution and Income Effect, Price Elasticity of Demand
- Intertemporal Consumption Choices. Rate of Time Preference. Intertemporal Budget Constraint. Interest Rate.
3. Decision under Risk and Uncertainty.
Risk. Uncertainty. Probability. Measuring Risk- Variance, Standard Deviation. Expected Mean (Value).
Expected Utility Theory.
Attitude Toward Risk - Risk Averse, Risk Loving, Risk Neutral.
Insurance. Adverse Selection and Moral Hazard.
4. Theory of production
Long-run Production Function. Isoquant Analysis. Marginal Rate of Technical Substitution. Economic Region of Production. Long-run Expansion Path.
Short-run Production Function. Short-run expansion path.
Short-run Costs. Long-run Costs.
5. Perfect Competition.
Short-run and Long-run Equilibrium of the Firm under Perfect Competition.
6. Monopoly
- Price Discrimination. Natural Monopoly. Network Industries.
7. Oligopoly
- Pricing Strategies of the Oligopolistic Firms.
- Cournot's Model, Stackelberg Model, Sweezy Model.
8. Anti-monopoly Regulation.
- Rate of Return Regulation, Price Cap Regulation; Franchise regulation; Yardstick regulation
9. Monopolistic Competition.
- Short-run and Long-run equilibrium of the Firm under Monopolistic Competition
10. Labour Market.
- Individual Demand and Supply of Labour.
- Market Demand and Supply on Competitive Labour Market. Short-run and Long-run Equilibrium on Competitive Labour Market.
11. Capital Market.
12. General Equilibrium and Welfare Theorems.
- Edgeworth Box. Consumption Efficiency. Production Efficiency. Pareto Efficiency.
- Welfare Theorems.
- Monopsony Labour Market.
13. Market Failures. Microeconomic policy of government.
Externalities.
Public Good. Efficient Scale of Provision of a Public Good.
Public Choice Theory.
Tutorials:
1. Theory of Demand. Elasticities of Demand.
2. Consumer Choice.
3. Production Functions. Costs of Firm.
4. Firm Behaviour under Perfect and Imperfect Competition.
5. Input Markets. Decision under Risk.
2. Consumer Choice
- Income-Consumption Curve, Engel Curve, Engel Expenditure Curve, Income Elasticity of Demand
- Price-Consumption Curve. Substitution and Income Effect, Price Elasticity of Demand
- Intertemporal Consumption Choices. Rate of Time Preference. Intertemporal Budget Constraint. Interest Rate.
3. Decision under Risk and Uncertainty.
Risk. Uncertainty. Probability. Measuring Risk- Variance, Standard Deviation. Expected Mean (Value).
Expected Utility Theory.
Attitude Toward Risk - Risk Averse, Risk Loving, Risk Neutral.
Insurance. Adverse Selection and Moral Hazard.
4. Theory of production
Long-run Production Function. Isoquant Analysis. Marginal Rate of Technical Substitution. Economic Region of Production. Long-run Expansion Path.
Short-run Production Function. Short-run expansion path.
Short-run Costs. Long-run Costs.
5. Perfect Competition.
Short-run and Long-run Equilibrium of the Firm under Perfect Competition.
6. Monopoly
- Price Discrimination. Natural Monopoly. Network Industries.
7. Oligopoly
- Pricing Strategies of the Oligopolistic Firms.
- Cournot's Model, Stackelberg Model, Sweezy Model.
8. Anti-monopoly Regulation.
- Rate of Return Regulation, Price Cap Regulation; Franchise regulation; Yardstick regulation
9. Monopolistic Competition.
- Short-run and Long-run equilibrium of the Firm under Monopolistic Competition
10. Labour Market.
- Individual Demand and Supply of Labour.
- Market Demand and Supply on Competitive Labour Market. Short-run and Long-run Equilibrium on Competitive Labour Market.
11. Capital Market.
12. General Equilibrium and Welfare Theorems.
- Edgeworth Box. Consumption Efficiency. Production Efficiency. Pareto Efficiency.
- Welfare Theorems.
- Monopsony Labour Market.
13. Market Failures. Microeconomic policy of government.
Externalities.
Public Good. Efficient Scale of Provision of a Public Good.
Public Choice Theory.
Tutorials:
1. Theory of Demand. Elasticities of Demand.
2. Consumer Choice.
3. Production Functions. Costs of Firm.
4. Firm Behaviour under Perfect and Imperfect Competition.
5. Input Markets. Decision under Risk.