| Detailed information |
| Original study plan |
Bachelor's programme International Business Administration 2021W |
| Objectives |
The students have knowledge of the basic principles of microeconomics. They are able to solve real-world microeconomic questions and problems. The students know the analytical tools that allow them to study constitutive and farther-reaching subjects in economics. The students learn economic thinking as well as how to grasp real-world problems in a concise and formal way.
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| Subject |
Clarification of the following basic terms will be covered:
- Supply and demand
- Elasticities
- Preferences and budget constraints
- Optimal consumption
- Demand function, and consumer surplus
- Production function
- Costs
- Profit maximization
- Supply function and producer surplus
- Welfare analysis
- Monopoly
- Monopolistic Competition and oligopoly
- Cournot, Stackelberg, and Bertrand equilibria
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| Criteria for evaluation |
written exam, participation
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| Methods |
Calculus, graphical analysis and interpretation, logical reasoning
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| Language |
English |
| Study material |
Slides and problem sets
Textbook: Robert S. Pindyck and Daniel L. Rubinfeld. “Microeconomics”, Pearson, Prentice Hall, 7th Edition.
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| Changing subject? |
No |
| Further information |
The IK Introduction to Microeconomics complements the KS Introduction to Microeconomics. The purpose of the IK is to provide students with an opportunity to deepen the knowledge from the KS by discussing the material and solving problem sets in class. Accordingly, the IK should be taken in the same semester together with the KS.
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