Microeconomics

1. Basic Courses Information

Course Code: 061083
Course Name: Microeconomics
Course Type: Fundamental Course
Period: 48
Credit: 3
Target Students: Undergraduates Majoring in Economics, Management
Assessment: Examination
Preparatory Courses: Calculus

2. Course Introduction

Microeconomics is not only a  key subject for other specialized theories, but also a foundation course for fostering the student's thought about modern economics.The economic behaviors of individual units are studied in Microeconomics. Three contents are included in the course. The first analyzes the equilibrium of economic behavior of an individual producer and consumer; the second focuses on the determination of equilibrium price on the individual market; and the third deals with the determination of equilibrium price of all markets. Since an individual unit is discussed, it is therefore called Microeconomics, and since the price analysis is the core of Microeconomics, it is also called price theory. Six aspects can be manifested in the theoretical framework of Microeconomics. 1. The theory of demand and supply. 2. The behavioral theory of consumption. 3. The behavioral theory of producing. 4. The theory of market structure. 5. The theory of allocation. 6. The theory of equilibrium and the welfare economics. Besides, Microeconomics analyzes the causes of market failure and corresponding countermeasures.