Microeconomics


Course description

Economics and the structure of economic models. The demand and supply framework. Theory of consumer demand: utility theory; individual and market demand functions; comparative statics of consumerís equilibrium; demand elasticity; expenditures and elasticity; consumer surplus; labour and saving optimal decisions. Theory of supply: technology and costs; competitive market supply. General equilibrium and the two fundamental theorems of welfare economics. Competitive equilibrium. Non-competitive markets: monopoly; game theory and oligopoly.


Bibliography

Robert H. Frank, Microeconomia, McGraw-Hill, 2007.




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