This course is intended to provide an in – depth understanding of the behavior of economic such as consumers, producers and owners of factor of production. The students will acquire skills in analyzing the competitive behavior of various markets and in assessing the effectiveness of government policies on outcomes of marks
1. The theory of the consumer Behavior: Indifference curve analysis: Revealed Preference Approach
2. The theory of producer: Production and cost function; Profit maximization
3. Market Structure: Partial equilibrium: Products Markets – Price output Determination, Perfect and Imperfect Competition, Monopoly, Price Discrimination, Markets Structure, Efficiency and Regulation Factor market – Factor pricing, Euler’s Theorem,
4. General equilibrium and welfare:General Equilibrium of Production and Exchange; Externalities; information. Asymmetric information, Adverse selection. Moral hazard; Pareto Optimality; Social Welfare Function
