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ECON 207 is one of two intermediate microeconomics courses which build on the concepts learned in ECON 104. Concepts will be taught with a graphical and/or simple algebraic approach. Most of the first term is spent using the consumer behaviour model to explain optimal consumer decision making with different types of goods. Consumer decision making under risk and uncertainty is also examined. Term two is spent examining what happens when people and businesses are imperfectly informed about their transactions, or about each other. Externalities and public goods are also investigated.
On completion of ECON207, students will be able to:Use consumer theory to identify best affordable bundles for consumers in different situations graphically and algebraically.Use the consumer behaviour model to evaluate government policy.Understand risk and uncertainty as it applies to the insurance market.Explain the different reasons for market failure.Apply various economic theories to practical ‘real-life’ examples.
ECON104
Students must attend one activity from each section.
Steve Agnew
David Besanko and R Braeutigam; Microeconomics ; Fifth; Wiley.
Domestic fee $868.00
International fee $4,075.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Economics and Finance .