KTTA2150 Mikrotaloustiede I (8 op)

On successful completion of the course, the student is able to:

* explain how a competitive market outcome is an equilibrium outcome;

* explain how a competitive market yields a Pareto optimal outcome;

* explain how a competitive market facilitates the flow of information on preferences and costs between market actors;

* explain how a competitive market is an answer to a mechanism design problem in terms of the above;

* analyze whether any specific market is likely to generate socially desirable outcomes;

* analyze the effects of proposed economic policies on markets' functioning;

* apply the Lagrange method for constrained optimization on economic problems;

* calculate and use basic economic statistics such as for example price indices and elasticities;

* apply basic game theoretic concepts, such as for example strategic dominance.

Ajoitus: 2. vuosi

KTTP2110 Basics of Economics/Taloustieteen peruskurssi (exchange students need no prior knowledge of economics if willing to work hard).
JSBY1230 Mathematics for Business and Economics 2/Talousmatematiikka 2 (exchange students need to understand how to take derivatives of functions).

Study materials will be made available through Moodle each year.