ECO2101 Intermediate Microeconomics I

Microeconomic I is the continuation to the introductory microeconomic. It provides rigor analysis to the behavioral assessment of households and firms decision making. Gradually students are expected to master the use of mathematical tools in form of graphs, with particular interest on algebra, and their application in specifying consumers, producers and market structure models. Emphasis is mainly fixed on graphical exposition of consumer models, producer models and market structure models with some limited doses of mathematical algebra in drawing a vivid picture of market transactions. The end in this approach is achieving benefits of conciseness and precision borne in mathematical tools of analysis.    

Course Objectives
While advancing the rigor of analysis, Microeconomic I is intended to achieve the following; 

• Provision of the demonstration of mathematical application to microeconomic analysis
• Improved specific of consumer preferences and utility functions while solving the consumer problem
• More realistic adoption of technology and production functions to determine market equilibrium supply 
• Introduction of algebraic specific and analysis of the different market structure for better exposition. 

Course Learning Outcomes
At the end of course students are expected to have exhaustively covered the topics stated in the course content below and as such should be able to; 

• Examine microeconomics concepts, principles and theories at an intermediate level.
• Evaluate how economic agents e.g. consumers, firms, e.t.c. make decisions in their daily operations.
• Assess microeconomics theory using basic tools e.g. diagrams and mathematics.
• Analyze, interpret and solve microeconomic models.