Principals of Microeconomics has introduced basic concepts in market and discussed how markets work in general. The aim of this course is to deepen the understanding of behaviors in the market by further examining the decision process of economic agents and the implied welfare consequences.
In the first half of the course, we focus on how individuals make their decisions in the market by discussing two broad topics. The first is the analysis of price and income changes in the market. This discussion builds on what have already been covered in Principals of Microeconomics. The second topic is individual decision-making regarding time, risk, and uncertainty where we will also examine how the asset market works.
In the second half of the course, we focus on analysing the welfare effects of outcomes in markets and society. To this end, students will learn different measures of welfare and criteria for efficiency, and how perfectly competitive markets help achieve socially optimal outcomes. Subsequently, we will discuss the problems related to making choices for society and how these may be reconciled.
Prerequisite graph
Required first
AB0901Principles Of Economics: A Singapore PerspectiveHE1001Microeconomics IHE5091Principles of EconomicsHE9091Principles Of EconomicsMicroeconomics II
Unlocks
HE3001Microeconomics IIIHE3004Mathematics For Economists IiHE301Mathematical EconomicsHE3011Cost-Benefit AnalysisHE3013Economics of Corporate FinanceHE3014Economics Of Corporate FinanceHE3015Political EconomyHE302Game Theory & Applications To Social SciencesHE3026Urban EconomicsHE3032Game TheoryHE3040Rational & Irrational Decision MakingHE3111Monetary EconomicsHE3112Financial Accounting for EconomistsHE3601Mathematical EconomicsHE3602Game Theory+20 moreAvailable indexes
| Mon | Tue | Wed | Thu | Fri | |
|---|---|---|---|---|---|
| 930 | 19501 TUT (T1) 0930-1020 Wed LHS-TR+48 | ||||
| 1000 | |||||
| 1030 | 19502 TUT (T2) 1030-1120 Wed LHS-TR+48 | ||||
| 1100 | |||||
| 1130 | 19505 TUT (T5) 1130-1220 Tue LHS-TR+41 | 19503 TUT (T3) 1130-1220 Wed LHS-TR+48 | |||
| 1200 | |||||
| 1230 | 19506 TUT (T6) 1230-1320 Tue LHS-TR+41 | 19504 TUT (T4) 1230-1320 Wed LHS-TR+48 | |||
| 1300 | |||||
| 1330 | 19507 TUT (T7) 1330-1420 Tue LHS-TR+41 | COMMON LEC (LEC1) 1330-1520 Thu LT24 | |||
| 1400 | |||||
| 1430 | 19508 TUT (T8) 1430-1520 Tue LHS-TR+41 | ||||
| 1500 |
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