The purpose of this course is to teach students and let them experience the basic principles of the functioning of markets. Students will become familiar with concepts as efficiency, deadweight loss, consumer and producer surplus. They will learn how markets increase efficiency. They will also learn about market failures and various types of market interventions and their consequences.|
For non-LAS students the number of places in this course is limited. For registration, please contact firstname.lastname@example.org at least three weeks prior to the start of the course. This course is taught through co-teaching, which entails that more than a single professor is responsible for teaching the course and guiding the students that take it.
The course provides a treatment of consumer behaviour, relating to ideas concerning the budget line, the optimal consumption choice, diminishing marginal utility, and income and subsitution effects and their relationship to market demand. The course consists of a combination of lectures and tutorials. In the lectures students are taught general economic principles and the application of these principles to specific economic topics. In the tutorials students participate in and discuss the results from economic experiments that relate to the topics discussed in the lectures.|
The preliminary way in which the Final Grade is composed: Written exam (50%), Assignments (30%), Presentation (10%), Attendance (10%).
- Paul Krugman and Robin Wells, Economics, Worth Publishers, 5th edition, 2018.