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Intermediate Microeconomics ‎

Course Description:

The course will develop students' problem-solving skills combined with calculus to understand and apply of microeconomics principles in decision-making. The course applies basic microeconomic knowledge and tools to analyze the consumer and producer decisions making, analyzes their behavior and market structure with changing in hypotheses, and discusses the general principles of welfare economies and the general equilibrium. The topics covered include Consumer Behavior Theory, Consumers demand Analysis, Application to Consumer demand theory، Price elasticity، Production in the long run, Costs of Production in the short and long run, and Firm theory and General equilibrium

 

Topics to be Covered 
List of Topics

No. of

Weeks

Contact hours

Revision

Key techniques that will be used in the course.

Partial differentiation and solving simultaneous equations

26

Consumer Behavior Theory and Analysis

Utility and indifference curves

Budget Constraint

Constrained Utility Maximisation

Individual Demand – Income and substitution effects   

Applying consumer theory

 

412

Production and Cost theory

Isoquant curve, substitution between production elements, return to scale (constant, diminishing, increasing return to scale.  Types of costs in the short and long run, isocost curve sand output curves

26
Midterm13

Theory of firm and market structure

Analyze equilibrium in perfect competition, monopoly market, Monopolistic Competition, and Oligopoly

39
General equilibrium, Pareto optimality, welfare economics26
Revision13

 

. Schedule of Assessment Tasks for Students During the Semester
 Assessment task (i.e., essay, test, quizzes, group project, examination, speech, oral presentation, etc.)Week DueProportion of Total Assessment
1Individual assignmentOn going10%
2ParticipationIn-class exercises10%
3QuizzesWeek4, Week 8, and week 1215%
4MidtermWeek 920%
4Final examEnd of semester40%

 

1.List Required Textbooks:

Jeffry M. Perloff (2018). Microeconomics: Theory and Applications with Calculus (4th Edition) (The Pearson Series in Economics) 4th Edition ISBN-13: 978-0134167381; ISBN-10: 0134167384

2. List Essential References Materials (Journals, Reports, etc.:

-Varian, H:, Intermediate Microeconomics with Calculus: A Modern Approach, 1, 978- 0393123982WWNorton & Company Inc.

-Varian and T Bergstrom, Workouts in Intermediate Microeconomics​