Microeconomics Theory and Politics

Understanding how the market operates, is very important for every active citizen and also for each student having attending graduate of higher Education Economic programs, since almost all societies in the world are market-oriented.

Objectives

• The objective is to understand basic concepts of microeconomic theory. • Upon completion of the course the students will be able to: 1. Understand the functioning of the market. 2. Use scientific research to analyze market systems. 3. Solve problems of market systems. 4. Evaluate scientifically market systems. 5. Define the concept of uncertainty in market systems.

Prerequisites

No prerequisites.

Syllabus

. Introduction to Economics -The Economic System 2. Productive factors - The productive capacity of the economy. Economic decision-making and optimization process. 3. Demand and Supply, determinants, the concept of market equilibrium. 4. Elasticity of demand and supply, income elasticity 5. Theory of consumer demand, the method of utility, the method of indifference curves. 6. The Theory of Production. Cost Curves enterprise. 7. The concept of economic profit. The balance of the firm in perfect competition. 8. Forms of market: Perfect Competition, Monopoly, Characteristics forms market. 9. Oligopoly, Monopolistic Competition. Short-run and long-run equilibrium of the firm in all market types. 10. Prices and employment of inputs. The demand for production factors, determining the remuneration and employment levels of Labour, Wages and Employment of land, capital and entrepreneurship. 11. Failures / failures of the market system and state interventionism. 12. Choice under uncertainty. 13. Technology and Production