EC 2150 Intermediate Microeconomic Theory

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This EC 2150 Intermediate Microeconomic Theory course analyzes the microeconomics concepts in detail. In this course, the students will study the foundation of demand and supply and examine the behavior of individuals and firms in making their economic preferences. Students as well consider the tools that economists utilize to examine the economic problems and the interactions that occur in the market and how to evaluate the outcomes.

Learning outcomes:

• Students will be capable to describe the concept of scarcity and how it impacts the preferences of what, how and for whom goods and services are given.
• Students will be capable to implement the principles of controlled optimization to model the choice of consumer for consumption goods subject to a budget constraint and the choice of producer inputs subject to the technical constraint.
• Students will be capable to spot the conditions that exemplify a completely competitive market and elucidate the concepts of equilibrium along with comparative statics analysis.
• Students will be capable to examine the impacts of government actions on individual and social wellbeing.

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