Section One: Introduction

Introduction to the module including to WebCT and the resources available

Introduction to microeconomics

Section Two: Consumer Theory

Assumptions/axioms

Indifference curves

Budget constraints

Price and income changes

Elasticity

Lagrange multipliers

Section Three: Consumer Welfare and the Household as Supplier

Income and substitution effects

Compensating and equivalent variations

Consumer surplus

Labour supply curve

Dynamic consumption

Section Four: The Firm’s Supply

Profit maximisation

Production function/LDMR

Isoquants/MRTS

Returns to scale

Costs defined

Section Five: Perfectly Competitive Markets

Shut-down rule

Short-run supply curve

Factor demand

Assumptions of the model

Long run equilibrium

Monopolistic competition model

Section Six: Imperfectly Competitive Markets

The model of monopoly

Regulation of monopoly

Price discrimination

Introduction to oligopoly (Cournot and Bertrand models)

Prisoner's dilemma

Section Seven: Market Failure

Asymmetric information and moral hazard

Insurance markets

Externalities

Public goods