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ECON 207 is one 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. 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 examining what happens when people and businesses are imperfectly informed about their transactions, or about each other. Externalities and public goods are also investigated.
This course will build on concepts learnt in ECON104 to develop microeconomic tools and models which can be applied to real life situations. The consumer model which was introduced in ECON104 will be expanded on to examine a consumer’s consumption decisions when faced with different types of goods, and preferences that aren’t well behaved. The course will also introduce ideas of risk and uncertainty into consumers’ decision making. The second part of the course includes a more in depth analysis of the perfect competition market structure, and input markets such as labour and capital.At the end of the course, students will be able to:• use models developed in the course to examine real life applications of consumer and producer decision-making.• express microeconomic concepts using predominantly graphs, and a small amount of basic algebra.
ECON104
ECON202, ECON203
Steve Agnew
Domestic fee $737.00
International fee $3,125.00
* 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 .