“For the lent term of EC201, the textbook isn’t up to much. Thankfully, these notes transpose and expound all of the lecture notes in more detail, explaining the proofs and some of the more advanced material covered. Over almost 21,000 words and 55 pages these notes cover all the LT material. The notes were invaluable in helping me achieve 75 in the exam. I used professional standard equation formatting software.” ~ Note from the seller and author of these notes
We highly recommend this revision guide to all students taking EC201.
Course content for EC201:
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 and auctions. IV. General equilibrium and welfare. Competitive equilibrium. Efficiency of equilibrium. Welfare criteria. V. Topics in welfare economics. Public goods and externalities. VI. Uncertainty and information. Choice under uncertainty. Insurance markets. Asymmetric information. Loss Aversion. Moral Hazard.