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ECON271 Intermediate Microeconomic Theory

Presents an analytic approach to intermediate microeconomics. The emphasis is on the fundamental conceptual foundations of microeconomics, illustrating their application with concrete examples.

This is the core theory paper in economics. The paper is designed to formalise and extend the basic concepts of microeconomics that you were introduced to in your introductory economics papers. You will have seen many of the topics before - consumer theory, producer theory, exchange, monopoly and externalities - but typically in an informal setting. Other topics may be less familiar. We will consider examples and applications of micro theory. The tools of microeconomics are useful for a wide variety of problems - most of what you see in the newspapers or run into in daily life - and examples will be used to give you a sense of the range. The analysis will be technical in nature, involving calculus and optimisation. While this formalisation is essential for a modern treatment of microeconomics, the lectures will also present graphical techniques, especially for the building of intuition.

Paper title Intermediate Microeconomic Theory
Paper code ECON271
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees (NZD) $813.45
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

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Prerequisite
(BSNS 104 or BSNS 113) and ECON 112 and one of FINC 102, FINQ 102, MATH 160, MATH 170
Schedule C
Arts and Music, Commerce, Science
Eligibility
ECON 271 is recommended for economics majors who want to develop a deeper understanding of microeconomic models. It requires a working knowledge of basic algebra and calculus. It is also one of the required papers that students intending to proceed to postgraduate programmes (Honours, MBus, PGDip) in economics must include in their Bachelor's degree programme. Enrolments for this paper require departmental permission. View more information about departmental permission.
Contact
economics@otago.ac.nz
Teaching staff
Dr Murat Genc
Associate Professor Paul Hansen
Textbooks
Thomas J. Nechyba, Microeconomics: An Intuitive Approach with Calculus (South-Western,1st or 2nd edition in 2011/2016.)
Graduate Attributes Emphasised
Global perspective, Interdisciplinary perspective, Scholarship, Communication, Critical thinking, Information literacy, Research, Self-motivation, Teamwork.
View more information about Otago's graduate attributes.
Learning Outcomes
By the end of the paper you should have gained an understanding of the techniques of analysis appropriate to intermediate microeconomics and have enhanced your ability to reason logically and accurately. You will also be able to:
  • Translate economic ideas into equations or numerical examples
  • Calculate quantitative answers to economic problems
  • Recognise that economic arguments are simpler with a little maths
  • Appreciate how standard economic techniques can offer insights into various economic issues

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Timetable

First Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 12:00-12:50 9-15, 17-22
Wednesday 15:00-15:50 9-15, 17-22
Thursday 11:00-11:50 9-15, 17-22

Tutorial

Stream Days Times Weeks
Attend
T1 Thursday 12:00-12:50 9-15, 17-22

Presents an analytic approach to intermediate microeconomics. The emphasis is on the fundamental conceptual foundations of microeconomics, illustrating their application with concrete examples.

The paper presents an analytic approach to intermediate microeconomics and emphasises the fundamental conceptual foundations. The paper aims to demonstrate how microeconomics can be used to explain and predict household and firm behaviour and to demonstrate the effect of government policy on household and firm decision making. The paper formalises and extends the basic concepts of microeconomics that you were introduced to in your introductory economics papers by using calculus and optimisation as well as graphical illustrations. During the paper you will develop problem-solving skills, so reinforcing your understanding of both microeconomic and mathematical concepts.

Paper title Intermediate Microeconomic Theory
Paper code ECON271
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period First Semester
Domestic Tuition Fees Tuition Fees for 2018 have not yet been set
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
(BSNS 104 or BSNS 113) and ECON 112 and one of FINC 102, FINQ 102, MATH 160, MATH 170
Schedule C
Arts and Music, Commerce, Science
Eligibility
ECON 271 is recommended for economics majors who want to develop a deeper understanding of microeconomic models. It requires a working knowledge of basic algebra and calculus. It is also one of the required papers that students intending to proceed to postgraduate programmes (Honours, MEcon, MBus, PGDip) in economics must include in their Bachelor's degree programme.

Enrolments for this paper require departmental permission.
View more information about departmental permission.
Contact
economics@otago.ac.nz
Teaching staff
Dr Murat Genc
Associate Professor Paul Hansen
Textbooks
Thomas J. Nechyba, Microeconomics: An Intuitive Approach with Calculus (South-Western,1st or 2nd edition in 2011/2016.)
Graduate Attributes Emphasised
Global perspective, Interdisciplinary perspective, Scholarship, Communication, Critical thinking, Information literacy, Research, Self-motivation, Teamwork.
View more information about Otago's graduate attributes.
Learning Outcomes
By the end of the paper you should have gained an understanding of the techniques of analysis appropriate to intermediate microeconomics and have enhanced your ability to reason logically and accurately. You will also be able to:
  • Translate economic ideas into equations or numerical examples;
  • Calculate quantitative answers to economic problems;
  • Recognise that economic arguments are simpler with a little maths;
  • Appreciate how standard economic techniques can offer insights into various economic issues.

^ Top of page

Timetable

First Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
Blackboard

Lecture

Stream Days Times Weeks
Attend
L1 Monday 12:00-12:50 9-13, 15-22
Wednesday 15:00-15:50 9-13, 15-16, 18-22
Thursday 11:00-11:50 9-13, 15-22

Tutorial

Stream Days Times Weeks
Attend
T1 Thursday 12:00-12:50 9-13, 15-22