• Graduate program
    • Why Tinbergen Institute?
    • Program Structure
    • Courses
    • Course Registration
    • Recent PhD Placements
    • Admissions
    • Facilities
  • Research
  • News
  • Events
    • Events Calendar
    • Tinbergen Institute Lectures
    • Annual Tinbergen Institute Conference
    • Events Archive
    • Summer School
      • Research on Productivity, Trade, and Growth
      • Behavioral Macro and Complexity
      • Inequalities in Health and Healthcare
      • Business Data Science Summer School Program
  • Times
Home | Courses | Microeconomics I (Individual Decision Making)
Course

Microeconomics I (Individual Decision Making)


  • Course type
    Core
  • Program year
    First
  • Credits
    4

Course description

The course is the fundamental microeconomics course which studies individual decision-making and its relation to market clearing price formation. It builds on classical consumer choice theory. Then, individual behaviors are further integrated into a closed and interrelated system in which the equilibrium values of all variables are simultaneously determined. This is in contrast to the partial equilibrium approach, where all variables, which are not directly related to the problem at hand, are taking to be given. The course develops a theory that attempts to predict the complete vector of individual final consumptions and individual productions from the fundamentals of the economy.

Course literature

Primary reading
- Mas-Colell, Whinston and Green. (1995). Microeconomic Theory. New York: Oxford University Press. Chapters 1-3, 5, 6, 15-18.
- Lecture slides.