10627 Price Theory I

Credits: 3 intermediate credits in Economics

Prerequisites: Introduction to Microeconomics, one of the following: Calculus for Students of Economics and Management, Differential and Integral Calculus I or Infinitesimal Calculus I.

Authors: Menahem Yaari, Shmuel Nitzan, Gerard Amiash

The course focuses on the theory of the consumer in a competitive environment. The first part of the course is devoted to basic concepts related to consumers and to the environment in which they operate, to the axioms of consumer theory and to utility theory. The second part of the course deals extensively with demand theory. The third part of the course addresses various applications of consumer theory: labor supply, consumption over time, uncertainty, standard of living indicators and welfare changes indicators.

Topics: Consumer theory; Applications of consumer theory