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ECON371 Microeconomic Theory

The theory of consumer choice and the behaviour of the firm in a competitive setting.

ECON 371 provides intensive training on the tools of modern microeconomic analysis. The paper covers choice under uncertainty, general equilibrium, game theory and public goods. Students are expected to deepen the sophistication of their economic thinking about real-world events by focusing on canonical (i.e. frequently applied) theoretical models of externalities, asymmetric information and market power (extending price theory to consider simple models of imperfect competition).

Paper title Microeconomic Theory
Paper code ECON371
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second 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
ECON 271
Schedule C
Arts and Music, Commerce, Science
Contact
economics@otago.ac.nz
Teaching staff
Convenor and Lecturer: Nathan Berg
Textbooks
The required text book for this paper is Microeconomics: An Intuitive Approach with Calculus by T. J. Nechbya, published in 2011.
Graduate Attributes Emphasised
Scholarship, Communication, Critical thinking, Research, Self-motivation, Teamwork.
View more information about Otago's graduate attributes.
Learning Outcomes
By the end of the paper you should have substantially extended your understanding of the techniques of analysis and results from microeconomic theory appropriate for students wanting the option of pursuing postgraduate study in economics.
You will also be able to:
  • Define 'game' as a representation of strategic interaction based on mathematical game theory
  • Make predictions based on equilibrium outcomes in the canon of microeconomic theory
  • Write about real-world economic scenarios in a sophisticated analytic voice based on economic models
  • Analyse topical debates in public policy using well-known economic models that take into account externalities, asymmetric information and market power

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Timetable

Second Semester

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

Lecture

Stream Days Times Weeks
Attend
L1 Monday 14:00-15:50 28-34, 36-41
Wednesday 14:00-14:50 28-34, 36-41

Tutorial

Stream Days Times Weeks
Attend
T1 Wednesday 15:00-15:50 28-34, 36-41

The theory of consumer choice and the behaviour of the firm in a competitive setting.

ECON 371 provides intensive training on the tools of modern microeconomic analysis. The paper covers choice under uncertainty, general equilibrium, game theory and public goods. Students are expected to deepen the sophistication of their economic thinking about real-world events by focusing on canonical (i.e. frequently applied) theoretical models of externalities, asymmetric information and market power (extending price theory to consider simple models of imperfect competition).

Paper title Microeconomic Theory
Paper code ECON371
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second 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
ECON 271
Schedule C
Arts and Music, Commerce, Science
Learning Outcomes
By the end of the paper you should have substantially extended your understanding of the techniques of analysis and results from microeconomic theory appropriate for students wanting the option of pursuing postgraduate study in economics.
You will also be able to:
  • Define 'game' as a representation of strategic interaction based on mathematical game theory
  • Make predictions based on equilibrium outcomes in the canon of microeconomic theory
  • Write about real-world economic scenarios in a sophisticated analytic voice based on economic models
  • Analyse topical debates in public policy using well-known economic models that take into account externalities, asymmetric information and market power
Contact
economics@otago.ac.nz
Teaching staff
Convenor and Lecturer: Nathan Berg
Lecturer: Ronald Peeters
Textbooks
The required text book for this paper is Microeconomics: An Intuitive Approach with Calculus by T. J. Nechbya, published in 2011.
Graduate Attributes Emphasised
Scholarship, Communication, Critical thinking, Research, Self-motivation, Teamwork.
View more information about Otago's graduate attributes.

^ Top of page

Timetable

Second Semester

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

Lecture

Stream Days Times Weeks
Attend
L1 Monday 14:00-15:50 28-34, 36-41
Wednesday 14:00-14:50 28-34, 36-41

Tutorial

Stream Days Times Weeks
Attend
T1 Thursday 14:00-14:50 28-34, 36-41