Microeconomics I

The course is a continuation of the course of introduction to Economic Theory. In particular, this course discusses the decision-making process both consumers and producers and the impact of those decisions on the functioning of the markets with particular emphasis on applications relating to the production and consumption of agricultural products and foodstuffs.

Objectives

The main purpose of this course is to make students able to use the provided insights and analysis tools to solve microeconomic problems. Upon successful completion of this course the student will be able to: understand the basic assumptions concerning the behaviour of both consumers and producers and the decision-making process of these two economic units. Understand how the decisions of consumers, but producers and state influence in the operation of the markets. Be able to use economic models to solve economic problems and to formulate policy measures belong to the discipline and level of the course.

Prerequisites

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Syllabus

1. Analysis of the demand-supply model 2. Consumer Behaviour theory 3. Production theory of the firm. 4. Cost Theory of the firm. 5. Structure of perfect competition market- 6. Market structure-Monopoly