Microeconomic Theory 1 is a core course in the MSc Economics program, and it is a part of the first year microeconomics sequence in the MRes Economics program. It serves as a foundation for the subsequent studies. It covers in depths classical topics of individual choice of households and firms, competitive markets, choice under uncertainty.

Lectures: 2 hours per week in teaching weeks 1-2; 4 hours per week in teaching weeks 3-6; 6 hours per week in teaching weeks 7-8; and 4 hours per week in teaching weeks 9-10.

Tutorials: 10 x 1-hour tutorials

On campus

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The aim is to provide a solid theoretical background in the principal areas of classical Microeconomic Theory of the theories of decision making and interactions between agents, consumers, firms, etc, at a postgraduate level, using a wide range of advanced forefront mathematical modelling tools, and to give students extensive and detailed knowledge and specialized skills, which would allow them to carry out their own original and creative research in this area.

Course will focus on deep conceptual understanding, critical analysis, detailed formal modelling, and extensive problem-solving at the level of forefront current research.

By the end of this course students will be able to:

1. Apply advanced microeconomic theories and modelling techniques to interpret and evaluate economic scenarios across a range of contexts.

2. Critically assess economic concepts and information to construct well-reasoned analyses of decision-making processes in policy-relevant environments.

3. Demonstrate proficiency in quantitative methods for exploring microeconomic relationships and evaluating their implications in analytically grounded contexts.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.