MICROECONOMICS 2026/27

The course gives students a structured grounding in microeconomics: market mechanisms (supply, demand and elasticity), consumer choice, production and cost theory, and market structures from perfect competition to monopoly. Students learn to apply microeconomic models and analytical tools to practical problems, such as calculating elasticity, finding a consumer’s optimal choice and maximising a firm’s profit. The course also builds the ability to assess market phenomena critically and to understand the limits of economic models.