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This course follows on from the Intermediate Microeconomics sequence taught at stage 2. The primary focus is on applying fundamental mathematical tools and techniques for modelling standard microeconomics problems involving consumers, producers and markets. Techniques in both algebra and calculus will be used. The main objective is to show students how a selection of standard microeconomics problems can be modelled in terms of constrained optimisation, solving those problems, and above all, analysing the solutions.
This course extends the material from ECON207 and ECON208 by looking at a series of “general equilibrium” settings. The main model employed throughout is the Edgeworth box, which was already seen in ECON207. Topics covered include equilibrium under pure exchange with bargaining, perfect competition pricing, monopoly pricing, equilibrium with production, the Edgeworth box under risk, and equilibrium under asymmetric information.
This course will provide students with an opportunity to develop the Graduate Attributes specified below:
Critically competent in a core academic discipline of their award
Students know and can critically evaluate and, where applicable, apply this knowledge to topics/issues within their majoring subject.
Employable, innovative and enterprising
Students will develop key skills and attributes sought by employers that can be used in a range of applications.
(1) ECON207; and (2) MATH102 or MATH199; and (3) 15 points from STAT RP: ECON208
ECON208
Philip Gunby
Domestic fee $868.00
International fee $4,075.00
* 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 .