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Department of Economics

EC102 Course Guide

This is an introductory course in microeconomics and macroeconomics for those expecting to take further courses in economics.

Course Content

Michaelmas Term: Supply and demand: consumer choice; characteristics of individual market demand; information & signalling; altruism & cooperation; theory of the firm; perfect competition, monopoly & price discrimination; externalities & property rights; public goods.

Lent Term: Measurement of the aggregate economy; money & inflation; trade & exchange rates; unemployment; economic fluctuations; stabilization policy; government debt; growth & development.

Note: Graduate Teaching Assistants (who are often PhD students) will teach classes on this course.

    Teacher: Picture of Dimitra Petropoulou

EC201 Course Guide

An intermediate course in microeconomic analysis.

Course content

I. Consumer Theory. Utility functions and indifference curves. Income and substitution effects. The Slutsky equation. The expenditure function, compensating and equivalent variation, and consumer surplus. Selected applications to savings and labour supply, including the effects of taxes and benefits.

II. Producer Theory. Production and cost functions. Firm and industry supply. Perfect Competition and Monopoly.

III. Strategic Choice. Basic ideas in game theory. Applications to oligopoly.

IV. General equilibrium and welfare. Competitive equilibrium. Efficiency of equilibrium. Welfare criteria.

V. Topics in welfare economics. Public goods, externalities, second best pricing.

VI. Uncertainty and information. Choice under uncertainty. Insurance markets. Asymmetric information. Selected applications.

Note: Graduate Teaching Assistants (who are often PhD students) will teach classes on this course.

    Teacher: Picture of Dimitra Petropoulou

EC220 and Ec221 are the core courses taken by second-year undergraduates specializing in economics many second and third year students on joint degrees with economics, and by many students enrolled in the MSc Economics (Preliminary Year) programme, as an elective by undergraduates specializing in subjects other than economics depending on regulations, and, with prior permission of the EC220 course lecturer, by students from other universities spending a year at LSE in the General Course programme. The course consists of 60 lectures and 20 small-group classes. During the MT, both EC220 and Ec221 are taught jointly; this term focuses on more applied material.  During LT, EC220 and Ec221 split into two lecture groups; that term focuses on more theoretical material.   Class work includes practical work on the computer with actual data sets as well as pencil and paper exercises.

EC220 Course Guide

EC221 Course Guide

Note: Graduate Teaching Assistants (who are often PhD students) will teach classes on this course.

    Teacher: Picture of Dimitra Petropoulou
LSE Economics Logo

Department of Economics

EC102 Course Guide

This is an introductory course in microeconomics and macroeconomics for those expecting to take further courses in economics.

Course Content

Michaelmas Term: Supply and demand: consumer choice; characteristics of individual market demand; information & signalling; altruism & cooperation; theory of the firm; perfect competition, monopoly & price discrimination; externalities & property rights; public goods.

Lent Term: Measurement of the aggregate economy; money & inflation; trade & exchange rates; unemployment; economic fluctuations; stabilization policy; government debt; growth & development.

Note: Graduate Teaching Assistants (who are often PhD students) will teach classes on this course.

    Teacher: Picture of Dimitra Petropoulou