LFU:online

The objective of this course is to provide a first introduction to the basics of microeconomic theory. To this end, important concepts concerning the analysis of economic behavior at the individual level will be discussed. With a variety of practical examples it is demonstrated how these concepts can be utilized in simple economic models for the analysis of consumption, production, and market interaction.

This course provides an introduction to the methodology of microeconomic thinking. Central contents of this course include the theory of consumption and production, and the functioning of markets in perfectly competitive economies. Students will acquire a basic working knowledge with respect to quantitative methods such as constrained optimization and comparative-static analysis.