Description
The purpose of this course is to enhance the understanding of introductory concepts learned in the Principles of Microeconomics (EC 102). Microeconomic theory provides the framework required for a rigorous analysis of how individual consumers and producers make decisions, how competition takes place via the market and how the market allocates resources. It will aim at an in-depth study of the consumer behavior and implications of different market structures such as perfect competition, monopoly, and oligopoly for pricing behavior and social welfare.