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LO-1
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Will be able to explain the basic concepts and assumptions in microeconomic theory and develop the ability to work with graphics. |
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LO-2
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Will be able to analyze consumer balance.
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LO-3
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Will be able to make producer balance analysis.
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LO-4
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Will be able to define costs of production, short and long run cost functions. |
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LO-5
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Define the concept of market, list the market types and analyze the perfectly competitive market. |
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LO-6
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Will be able to explain monopoly market and firm equilibrium in this market. Will be able to explain the structure and functioning of the monopsony market. Will be able to define firm equilibrium and oligopoly theories in oligopoly market. |
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LO-7
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Will be able to specify factors affecting factor supply and factor demand and will be able to make equilibrium analysis in factor market. |
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LO-8
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Will be able to explain the general concept of balance and well-being and its simplifying assumptions. |