This module intends to give a detailed introduction into microeconomics. Students will acquire the basic knowledge in microeconomics and thus will be able to understand the market behavior of households and firms and the basic market mechanisms in an economy.
Main textbook (highly recommended reading):
The course Microeconomics is divided into three main parts. The first part covers the basic model of perfect competition. The behavior of private households (household theory) and the behavior of firms (theory of the firm) will be analyzed. Further, the market equilibrium that results from the interaction of the two will be investigated. In the second part, some assumptions of the former market model are modified, and the focus is on monopoly power and on asymmetric information. The third part gives a short introduction into the theory of externalities.
Prof. Uwe Walz
Type of Course:
The module consists of a lecture and an exercise.
Students should be able to present an implementation concept of exercises.
Certification of credits:
Written examination (90 Minutes)