Intermediate Microeconomics

This subject is the second in the sequence of Microeconomics and it follows the subject "Introduction to Microeconomics" of the first half of the first year. It belongs to the area of Economic Analysis. The modern Economic Analysis is divided into two major fields of study: microeconomics and macroeconomics. Microeconomics studies the behavior of individual economic agents, i.e., any individual or entity performing any role in the functioning of the economy. The conventional contents of microeconomics are: the theory of prices, consumption and production, the competitive equilibrium, non-competitive markets, economic efficiency and welfare theory. In the subject "Introduction to Microeconomics", we analyze the optimal behavior of consumers and producers, we study the supply and demand curves of the market, and we discuss the perfectly competitive market equilibrium. The subject "Intermediate Microeconomics" is the continuation of the microeconomic analysis of markets. It studies non-competitive markets, economic efficiency and welfare theory.

Course will consist of 60hrs of in class work and 90 hrs of independent work outside the classroom.