Microeconomics I is the first part of a two-part long Microeconomics Theory course for MA Economics. In this course, we will build the required groundwork for the rest of the degree coursework -- you will begin to understand the lens through which economists view the world. The course starts with an introduction of (micro)economic theory and helps understand the importance (and potential caveats) of creating real-world models. The course will then move to explain the (standard) behavior of the individuals that populate such models. Topics covered include abstract choice theory, consumer and producer theory, choice theory under uncertainty, and dynamic choice theory. We will then explain how such individuals may interact in a marketplace and build the general equilibrium theory. Time permitting we will also look at extensions of these traditional models and how economic theory has progressed since the turn of the century.
- Faculty: Ayush Pant