Intermediate Microeconomics: Microeconomics of the Household (ECON0014)

Aims: To provide students with a thorough understanding of core concepts and methods of microeconomics, as a foundation for subsequent study of microeconomic topics within the degree programme, and as one of the key elements in the professional training of an economist.

Suitable for: BASc students - Science Pathway (Y000 & Y001). Affiliate students may take ECON0014 with the permission of the Affiliate Student Tutor but are advised to check with their home university that the single term option will fulfill the right requirement in their home degree program.

Prerequisites: ECON0002 or introductory microeconomics at an equivalent level, ECON0010 or introductory calculus at an equivalent level.

Assumed knowledge: We expect students to have some familiarity with the main concepts of microeconomic theory as follows: consumer theory, utility maximisation, demand for goods, labour supply, savings, risk; producer theory, input demands, cost, profit; supply and demand, economic equilibrium, competition, monopoly, oligopoly; welfare, Pareto efficiency, conflicts of interests, inequality; game theory.
We also expect students to be competent in calculus of one and many variables including differentiation, integration and constrained optimisation, to be comfortable with linear algebra including use of vector and matrix notation, and to have come across concepts of homogeneity and convexity.

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