Mathematical Microeconomic Analysis
Prerequisites: Functions of one and several variables, Linear and Matrix Algebra, Optimisation, Undergraduate Microeconomics.
This course provides deeper insights into the core elements of microeconomic theory, such as consumer demand, producer supply and general equilibrium analysis. It emphasises mathematical analysis in developing the theory, but also explores its relationship with graphical analysis and formal economic reasoning. The course begins with the models of firm and consumer behaviour, and moves on to market coordination of individual decisions. The course also introduces our students to general equilibrium analysis and game theory. The analytical context of the course is as follows: Producer Theory: Production Technology, Cost Minimization, Profit Maximization, Consumer Theory: Preferences and Utility, Consumer Choice, Market equilibrium and efficiency: Partial Equilibrium, General Equilibrium, Game Theory: The concept of a game, Nash equilibrium.