Programme Outlines and Overviews

This course provides an intermediate-level exploration of microeconomic theory, designed for you who have completed an introductory course in microeconomics. You will learn core tools of microeconomic analysis and apply them to key questions about individual and firm behavior, as well as overall market outcomes. While some graphical analysis will be used for intuition, the primary focus is on formal model building, rigorous analysis, and calculus-based methods. You will use these tools to analyse individual choices and societal outcomes, while also exploring the limits of markets and possible policy interventions. The course emphasises both theoretical foundations and applied reasoning. In line with the programme’s objectives, the course deepens your theoretical understanding while fostering critical thinking about how economic models can be applied to real-world challenges, including those with global relevance such as inequality, public goods, and externalities like pollutions, traffic congestion, or vaccination. You will build your capacity to think analytically about decision-making and market dynamics, preparing you for subsequent empirical and data-driven courses. The course also strengthens your ability to apply economic reasoning to policy and business contexts. The course encourages responsible decision-making by analysing when and why markets may fail and what corrective policies are available. Through a group assignment, you will practice communicating economic reasoning clearly and develop collaborative skills that are valuable in international and intercultural environments.