Course Description

Course Name

Intermediate Microeconomics

Session: VDNS3121

Hours & Credits

18 Credit Points

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.

Overview

Presents an analytic approach to intermediate microeconomics. The emphasis is on the fundamental conceptual foundations of microeconomics, illustrating their application with concrete examples.

This is the core theory paper in economics. The paper is designed to formalise and extend the basic concepts of microeconomics that you were introduced to in your introductory economics papers. You will have seen many of the topics before - consumer theory, producer theory, exchange, monopoly and externalities - but typically in an informal setting. Other topics may be less familiar. We will consider examples and applications of micro theory. The tools of microeconomics are useful for a wide variety of problems - most of what you see in the newspapers or run into in daily life - and examples will be used to give you a sense of the range. The analysis will be technical in nature, involving calculus and optimisation. While this formalisation is essential for a modern treatment of microeconomics, the lectures will also present graphical techniques, especially for the building of intuition.

Learning Outcomes
By the end of the paper you should have gained an understanding of the techniques of analysis appropriate to intermediate microeconomics and have enhanced your ability to reason logically and accurately. You will also be able to:
- Translate economic ideas into equations or numerical examples
- Calculate quantitative answers to economic problems
- Recognise that economic arguments are simpler with a little maths
- Appreciate how standard economic techniques can offer insights into various economic issues

*Course content subject to change