After successful completion of the course, students are able to..

• explain basic micro economic concepts of the theory of consumer behaviour and the theory of the firm
• derive demand functions from utility maximization and supply functions from profit maximization
• analyse different market forms (monopoly, oligopoly, etc.)

Principles of supply and demand
Supply and demand elasticities
Consumer decisions and demand
Theory of production
Cost of production
Perfect competition
Monopoly and price discrimination
Externalities
Public goods and common resources

Analysis of microeconomic models with algebraic and graphical means.
Economic interpretation of microeconomic relations.

Please enrol in the regular course registration in TISS. This will guarantee that you will be able to participate in the course. Furthermore it enables us to get an overview of the required number of groups.

The initial meeting for the exercise sessions takes place during the first lecture of 105.620 VO Principles of Microeconomics.

Written exam and regular problem sets. Details in the information sheet on TUWEL.