351-1034-00L  Microeconomics

SemesterAutumn Semester 2016
LecturersA. Fetz, M. Gysler
Periodicityyearly recurring course
Language of instructionGerman


AbstractIntroduction to the economic decisions of households and firms, and their coordination through markets. Analysis of different market structures and of situations in which markets may lead to socially undesirable outcomes.
ObjectiveUnderstanding of basic microeconomic models. Ability to apply these models to real world economic situations.
ContentEconomics as a science, division of labour and welfare (concept of comparative advantage), supply and demand (market equilibrium, elasticity), households (preferences, demand), firms (technology, cost analysis, profit maximisation, supply), perfect competition, monopoly and oligopoly, externalities, public goods, information, factor markets and income distribution
Lecture notesvia email
LiteratureMankiw, G. and Taylor M. (2014): Economics, Cengage Learning
Prerequisites / NoticeCourse macroeconomics in the summer term