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HBC 2205: Intermediate Microeconomics Notes

Institution: Jomo Kenyatta University of Agriculture and Technology

Course: Bachelor of Commerce

Content Category: Lecture Notes

Posted By: PENTAMRK

Document Type: PDF

Number of Pages: 163

Price: KES 200
 
    

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Summary

Jomo Kenyatta University of Agriculture and Technology
Bachelor of Commerce
HBC 2205: Intermediate Microeconomics Notes

HBC 2205: INTERMEDIATE MICROECONOMIC
Course Description
Introduction: Meaning and purpose of microeconomic theory, Basic concepts and
mode of analysis, Traditional vs modern microeconomics, The Theory Of Consumer Behaviour: Consumer Theory, The Budget Constraint, Consumer Preferences, Utility: The Utility Function, Marginal Utility and Marginal Rate of Substitution, Revealed Preference Theory, The Slutsky Equation, Production Theory, Markets: Perfect Competition, Imperfect Competition, Game Theory: Elements of Game theory, The Payoff matrix of a game, Nash Equilibrium, Secure Strategies, General Equilibrium, Market Disequilibrium, Production, Distribution of Welfare

Prerequisite: HBC 2104: Introduction to Microeconomics

Course Aims
The main objective is to provide students with a good understanding of microeconomics at the Intermediate level. In addition to the traditional microeconomic topics, students will also be introduced to modern topics in the field. It will be assumed that students have a clear understanding of introductory economic theory. Some revision of basic calculus and linear algebra may be necessary for those students who are insufficiently prepared.
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