Microeconomics

Theory of Consumer Choice

• budget constraint
• preferences
• utility
• choice
• demand
• price and income changes

Firm behaviour

• cost of production
• cost curves
• firm supply

Supply and demand

• market demand
• industry supply
• equilibrium in competitive market
• elasticity
• effect of government policies
• consumer surplus
• producer surplus

Organisation of industry

• monopoly
• oligopoly

Remaining topics:

• general equilibrium
• pure exchange of goods

Students are expected to acquire knowledge and gain insight into economic theory and underlying methods. They will be able to derive optimal consumer and producer choices, to identify the impact of parameter changes, as well as to discuss the impact of underlying assumptions. Additionally, they will be able to analyze supply and demand on both individual and market level, to analyze different organizations of industry, as well as to analyze an exchange model.

You must meet the following requirements

• Registered for a degree programme other than
• HBO-TOP Applied Physics, Pre-Master

• Intermediate Microeconomics, Hal R. Varian, 9th edition, Norton
• Extra literature