Microeconomics I

Course: Microeconomics I
Workload: 60h
Prerequisite: Calculus II
Professor: Leandro Gorno

Consumer Theory: Hypotheses about consumer preferences; Representation of preferences through utility functions; Budget constraint and consumer choice; Demand, price effect, and income effect; The Slutsky equation and the revised Slutsky equation; Market Demand; Elasticities and Consumer Surplus; Revealed preference; Intertemporal choice; Theory of choice involving risk and applications; Partial equilibrium analysis. Firm Theory: Production; Costs; Profit maximization and cost minimization; The firm's choice in a competitive environment. General Equilibrium: Equilibrium in an exchange economy; Equilibrium and efficiency: the first and second welfare theorems.

Mandatory Bibliography:
OSBORNE, Martin J. and RUBINSTEIN, Ariel. Models in Microeconomic Theory. OpenBook Publishers. https://doi.org/10.11647/OBP.0204