ECO2003F - Intermediate Microeconomics

Course Information

Welcome to this course in intermediate Microeconomics. The focus of this course is on economic behaviour, be it the behaviour of individual consumers or firms. We will take time to examine the ways in which individuals make decisions, and revisit the assumptions of rationality and self-interest so often associated with the canonical model of Homo Economicus. We will also re-examine theories of the firm, with a strong emphasis on models of imperfect competition, namely monopoly and oligopoly. During this semester, we will build on many of the concepts you learned in your first year economics course, many of which we will take for granted, so if you're feeling a little rusty, we strongly encourage you to brush up on the basics by going back through your notes from last year.

Aim of the course

There is no doubt that any course in intermediate Microeconomics can be daunting. In this course, our aim is to expose you to the core theoretical models of consumer and firm behaviour as well as the mathematical tools you will need as an economist to work in these fields of interest. However, we also aim to give you the opportunity to read journal articles, as well as articles written for the popular press as we try to utilise our theoretical skills to understand real world problems.

Make no mistake! This is a demanding course, but one that we hope you will find rewarding. We strongly encourage you to keep up to date, to use your tutorial sessions and hotseat times to sort out any difficulties you might have with the material, and to make the most of reading the applied material that we have supplied in your course pack. It is this applied material that we hope will allow you to see how important your skills as an economist can be in helping to solve real world problems. Take note that this course involves LOTS of reading, so leaving it all to the last minute will only add to your stress! Try to read ahead of time, even if you dont manage to get through everything youll be amazed at how much it helps.