Microeconomics deals with the behaviour of individual economic units, such as consumers, workers, investors, owners of land and business firms. Microeconomics explains how these units make economic decisions. Another important concern of microeconomics is how these economic units interact in markets and in industries.

Course content

  1. Introduction to microeconomic analysis
  2. The basis and supply and demand
  3. Consumer theory
    • Consumer behavior
    • Individual and market demand
  4. Producer theory
    • Production
    • The cost of production
  5. Competitive markets
    • Profit maximization and competitive supply
    • The analysis of competitive markets
  6. Market structure and competitive strategy
    • Monopoly
    • Pricing with market power
    • Monopolistic competition and oligopoly


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