316-313 Microeconomics

Students proceeding to an honours degree in economics are required to take this subject in the third year of their course and the subject has been designed accordingly. There are, however, no restrictions on entry to the subject which all third year economics students are welcome to take.

316-201 Intermediate Macroeconomics and 316-202 Intermediate Microeconomics.

The objectives of the subject are to introduce new techniques of microeconomic analysis; and to study applications of microeconomic theory to a range of situations involving behaviour of consumers and firms, and market interaction. Topics include game theory and oligopoly, economics of information, behaviour under uncertainty and general equilibrium analysis.

• High level of development: critical thinking; synthesis of data and other information; evaluation of data and other information.

• Moderate level of development: oral communication; written communication; problem solving; application of theory to practice; interpretation and analysis; receptiveness to alternative ideas.

• Some level of development: collaborative learning; team work; statistical reasoning; use of computer software; accessing data and other information from a range of sources.

A 2-hour end-of-semester examination (80%) and class assignments totalling approximately 2000 words (20%).