Microeconomics 2

This is an undergraduate course in Microeconomic Theory. The first goal is to introduce students to modern microeconomics, the most important elements being consumer theory, the theory of the firm, (partial) equilibrium analysis for competitive market and non-competitive market, by which we draw some basic insights about market behavior and establish some basic facts about resource allocation and social welfare under different market structures. The course also serves to acquaint students with the paradigm of modern economics, model-based economic thinking, the formal treatment of modern economic theory, and useful analytical tools/techniques for microeconomics, which will lay foundations for more advanced courses in Economics. At the end of the course, students should develop a good understanding of how economists model individual behaviors and be able to explain and predict a wide range of observed economic phenomena.