ECO2003F - Microeconomics II

18 credits at NQF level 6

Entry Requirements:

ECO1010 and MAM1010 (or an equivalent). Students will be allowed to register for ECO2003 if they obtained at least 40% for MAM1000W. No concessions will be granted to students who obtained less than 40% for MAM1000W.

Course Outline:

The course formalises consumer and producer optimisation, and explores markets under perfect and imperfect competition. The course introduces the concept of uncertainty and how different agents respond to uncertainty. The course also considers industrial organisation, looking at models that relax the critical assumptions of perfect competition. All sections of the course incorporate applications.