Micro Economics III

Syllabus Micro Economics III – UPDATED

Demand Options

– Utility Maximization

– Static Comparative Analysis of Individual Demand

– Market demand

– Individual behavior under uncertainty

Production and Costs

– the Production Function

– Cost theory

– Company objectives: Profit maximization and other alternatives

After Mid Term

Pricing in the Goods Market

– Pricing in a perfectly competitive market in the short run

– Pricing in a perfectly competitive market in the long run

– Pricing in a monopoly market

– Pricing in imperfect competitive markets

– Pricing in the Oligopoly Market

– Game Theory

– Criticism of Neoclassical Theory

Factor Pricing – Factor Pricing in perfectly competitive markets

– Factor Pricing in imperfect competitive markets

– Labor Offer

– Capital

General Balance and Prosperity – Economic Efficiency

– Efficiency of Perfect Competition

– Externalities and Public Goods

– Social Choice Theory

– Prosperity Economy

Additional Discussion on Mathematical Approach – Microeconomics

Envelope Theorem
Sheppard’s Lemma
Isoquant
Isocost
Naturally Ordered
Bordered Preserving Principal Minor
Bordered Hicksian
Lagrange Multiplier
Duality
Dual Problem
Primal Problem
Kuhn-Tucker Condition
Hicksian Matrix
Naturally Ordered / Nested Principal Minor Determinant
Principal Minor Determinant of Order k
Constrained Optimization
Cramer’s Rule
Euler Theorem
Homogeneous of Degree
Deadweight Burder of Taxation
Equivalent Variation
Compensating Variation
Consumer Surplus
Inferior Goods
Normal Goods
Net Complement
Substitution Effect
Income Effect
Comparative Statics
Slustky Equation
Compensated Demand Function
Expenditure Function
Indirect Utility Function
Price Consumption Curve
Engle Curve
Income Consumption Path
Hicksian Demand Function
Marshallian Demand Function
Hotelling’s Lemma
Short Run Expansion Path
Long Run Expansion Path