ECON-2102 Microeconomics III
This course intends to provide a more in-depth analytical study of the issues concerning the microeconomics theory covered in Introduction to Microeconomics and Microeconomics II by using tools of differential calculus and dot-matrix algebra. The topics discussed are the following: intertemporal choices: interest rates, decisions on consumption and savings, assets and determinants of investment. Uncertainty, risk and information: expected benefit, aversion, uncertain assets, claim for insurances and financial assets, applications. General equilibrium: Edgeworth Box and the Walrasian equilibrium, Walras Law, income distribution, equilibrium characteristics, existence of equilibrium, properties of equilibrium, second-best theory, growing returns. Welfare Economics: Theory of justice and criteria of social welfare, market faults, welfare measurements.
InstructorEspinosa Farfan Miguel
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