Use the Tab and Up, Down arrow keys to select menu items.
The first of two intermediate microeconomics courses which build on the concepts learned in ECON 104. Concepts will be taught with a graphical and/or simple algebraic approach rather than a mathematical approach. Most of the first term is spent using the consumer behaviour model to explain optimal consumer decision making with different types of goods. Consumer decision making under risk and uncertainty is also examined. Term two is spent analysing the decision making of perfectly competitive firms. Specifically, how production processes and the price of inputs influence the output decisions of firms.
On completion of ECON207, students will be able to:Use consumer theory to identify best affordable bundles for consumers in different situations graphically and algebraically.Use the consumer behaviour model to evaluate government policy.Understand risk and uncertainty as it applies to the insurance market.Use production theory to identify cost minimising bundles for perfect competitors graphically and algebraically.Apply various economic theories to practical ‘real-life’ examples.
ECON104
ECON202, ECON203, ECON230, ECON231
Steve Agnew
Nicholson, Walter. , Snyder, Christopher M; Intermediate microeconomics and its application ; 11th ed; South-Western/Cengage Learning, 2010.
Course Outline
Domestic fee $709.00
International fee $3,063.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .