H1 Introductory Microeconomics (ECON10004) notes

Description

These notes cover all the content for all weeks of ECON10001: (Week 1 - 11) - Separated into weekly sections and topic sub-sections for easier access - Each week also has all readings integrated into them - Contains accompanying pictures and diagrams for easier understanding of the content (especially construction material and equipment) - Annotated with accompanying text boxes to add extra depth and understanding to particularly subtle/hard content Main Topics: Week 1 A: Introductory Case Studies B: Introduction to key concepts in microeconomics Week 2 A: Demand and supply B: Market equilibrium and comparative statics Week 3 A: What determines price and quantity? – 1. Elasticity and applications B: What determines price and quantity? – 2. Government intervention Week 4 A: Welfare in perfectly competitive markets B: International trade Week 5 A: Market failure 1: Externalities B: Market failure 2: Public goods Week 6 A: Key decisions and key concepts B: Measures of cost Week 7 A: Strategies to reduce costs/Introduction to revenue B: The ‘basic’ price/quantity decision Week 8 A: The effect of competition – Perfectly competitive markets B: The effect of competition – Monopolistic competition and Monopoly/Government regulation Week 9 A: What price to set? B: Selling with an information advantage Week 10 A: Introduction to game theory B: Simultaneous games Week 11 A: Sequential games B: Application to oligopoly