Production and Consumption

This course deals with microeconomics for students in their 2nd year of an economics bachelor program. It is held in English. The course focuses on the standard setting with competitive markets where both firms and consumers lack market power. We first start with choice and demand (preferences, utility, income- and substitution effects) before moving on to several aspects of uncertainty. Next, we discuss production and supply. The third part deals with bringing together choice/demand by households and supply by firms. We first deal with partial equilibrium, before moving on to general equilibrium (simultaneous consideration of all interaction on several markets). We close this course by investigating the major welfare properties of a general equilibrium.

For more details we refer to UNIGRAZonline.

Literature

  • Kurz, Heinz D. / Salvadori, Neri (1995): Theory of Production: A Long-Period Analysis, Cambridge: University Press.
  • Snyder, Christopher / Nicholson, Walter (2008): Microeconomic Theory, Baisc Principles and Extensions, 10th Edition, Mason: South-Western.
  • Mas-Colell, Andreu / Whinston, Michael / Green, Jerry (1995): Microeconomic Theory, Oxford: University Press.

Head of Institute

Univ.-Prof. Dr.

Michael Finus

Universitätsstraße 15/F4
8010 Graz

Phone:+43 316 380 - 3450

Staff

Bianca Watzke, M.A.

Phone:+43 316 380 - 7113

Irene Hye, M.A.

Phone:+43 316 380 - 3448