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Introduction to price theory using some calculus: The neo-classical model of consumer and producer choice and general equilibrium, and deviations from that model including externalities and public goods.
Introduction to price theory using some calculus: The neo-classical model of consumer and producer choice and general equilibrium, and deviations from that model including externalities and public goods.ECON230 introduces students to the three pillars of economic analysis (choice, scarcity, and coordination) and the mathematical techniques that economists use to represent these ideas (optimisation, equilibrium, and adding-up constraints). Most of the course is devoted to “price theory”, which is the analysis of the role that prices play in facilitating coordination in a market economy. The last part of the course deals with situations where coordination through prices may not result in desirable outcomes. The course looks to develop students’ ability to express these concepts using graphs, mathematics (particularly calculus), and plain English, and to be able to switch fluently between these three modes of expression.
(1) ECON101 or ECON104(2) MATH104 or MATH105 or MATH106 or MATH108 or MATH116
ECON231, ECON204, ECON550 (prior to 2006)
There will be one tutorial per week in addition to lectures.
Seamus Hogan
The weighting will be according to the following two schedules, whichever gives the highest grade (except, see the note on "dishonest practice" in the Course Outline):10%/35%/10%/45% (Problem Sets/Mid-Term Test/Essayt/Final Exam)10%/20%/10%/60% (Problem Sets/Mid-Term Test//Essay/Final Exam)
Bergstrom, Theodore C. , Varian, Hal R; Workouts in intermediate microeconomics ; 7th ed; W.W. Norton, 2006 (Medium: Workbook).
Varian, Hal R; Intermediate microeconomics : a modern approach ; 7th ed; W.W. Norton & Co, 2006.
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Domestic fee $763.00
International fee $3,116.00
* 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 .