- On completion of the course student will be able to formulate basic theories and models of microeconomics; to apply the various general equilibrium and trade theorems in order to predict the consequences of policy changes; to use a Lagrange method, solve the system of first-order conditions to get a solution to a model, and analyze properties of the solution; to know the behavioral assumptions economics makes about consumers and firms.
- Knowledge of Microeconomics.
- Understanding of real-life economic problems.
- Ability to interpret economic policies through the lens of Microeconomics theory
- The basics of demand and supply.
- Producer behavior: technology, production function, isoquant, the technical rate of substitution, returns to scale, profit maximization, cost function, duality.
- Consumer behavior: budget constraint, preferences and utility function, indifference curve and the marginal rate of substitution, choice, types of goods.
- The analysis of competitive markets.
- Intermediate microeconomics with calculus, Varian, H., 2014
- Microeconomic analysis, Varian, H., 1992
- Микроэкономика : третий уровень, учебник : в 2 т., Т. 1, отв. ред. Г. М. Мкртчан, 525 с., Бусыгин, В. П., Желободько, Е. В., Цыплаков, А. А., 2008