Selections
Resources
Topics to be Familiar with Before Taking Graduate Microeconomics - Return to list
Basic Supply and Demand Analysis
Theory of Consumer Behavior
- Budget constraints and indifference curves
- Marginal utility, marginal cost, marginal rate of substitution
- Optimal choice
- Graphical treatment of income and substitution effects
Theory of the Firm
- Cost minimization
- Long-run vs short-run costs
- The meaning of zero economic profits
Perfect Competition
- Firm supply decision
- Profit maximization
- Long-run vs short-run industry equilibrium
Monopoly
- Profit maximization
- Consumer surplus, producer surplus
- Inefficiency, deadweight loss
- Price discrimination
- Graphical treatment of monopolistic competition
Oligopoly
- Modeling firm interdependence, equilibrium
- Game theory (basics, prisoner's dilemma)
Recommended Texts:
- Hal Varian, Intermediate Microeconomics(Norton); Robert Frank, Microeconomics and Behavior (McGraw-Hill)
