|Elective, Credits||Compulsory Elective 2 credit [Department of International Economy]|
This course provides an intermediate level of microeconomics. Part II is divided into three parts. First part of the course provides the basic theory of consumer choice, and applies it to analyzing the work-leisure decision, consumption-saving decision and some other economic problems. Second part examines firm's behavior in imperfectly competitive markets, namely, monopoly, duopoly, and monopolistically competitive markets, and the strategic behavior and interaction of competing firms using basic game theory. Third part deals with asymmetric information, decision making under uncertainty.