MICROECONOMIC THEORY AND POLICY

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Course Code: 
EPP 7101
Course Credit Units: 
3
Semester: 
Semester 1
Year of Study: 
Year 1
Undergraduate or Graduate Level: 
Graduate Level
Course Description & Objectives: 

individuals and firms, and the interaction of these agents in the market. It also examines the effects of government policies, market power and externalities on market efficiency. Recently there have been significant developments in areas of microeconomic policy, such as privatization and competition policy. There are also currently a number of key corporate governance matters under discussion that are likely to have important implications for the relationships between the main stakeholders of firms and for corporate objectives. In order to appreciate the key factors involved in these and other microeconomic issues, it is necessary to develop an understanding of the conceptual tools and underlying analytical framework and how it can be applied to particular situations. This involves exploring the fundamental decisions made by economic agents as producers, consumers and suppliers of factors of production.  

Learning Outcomes: 
  • .  Students will attain, through lectures, readings and problem sets, knowledge of the building blocks of economic analysis.
  •   .  Students will develop, through lectures, readings and problem sets, some tools to analyze, critically assess, and develop creative solutions to public policy problems.
  •    Problem sets and exams will enable students to apply basic principles of critical thinking, problem solving and technical proficiency in economics.
  •      Demonstrate a detailed knowledge of the neoclassical model of the economy at the microeconomic level.
  •      Show a thorough understanding of the theory of prices and markets.
  •       Identify and evaluate the main models of market structure.
  •      Demonstrate an awareness of the key elements and relevance of game theory in strategic analysis.
  •     Provide an analysis of factor markets
  •      Choose the appropriate tools and methods from a wide range of techniques in order to solve microeconomic problems through effective and independent learning.
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MICRO ECONOMICS
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