In this course you will analyse the microeconomic principles that lie behind the effective functioning of a market economy and understand what such an economy delivers for its citizens. You will apply the tools of microeconomics to analyse concrete economic problems. Over the term you will explore general equilibrium, social welfare, political economy, as well as the effects of living interdependently, exploring public goods and externalities and the role (and limitations) of government intervention in correcting market failures. 

Course guide