Economics: Intermediate Microeconomic Analysis

<p>The economy consists of people making decisions. In this course, you are equipped with tools to analyse individuals' and firms' decision-making and how these decisions shape outcomes like prices, welfare, and efficiency. You build a foundation for further study in economics and for policy analysis.</p><p>You deepen your understanding of how individuals and firms make choices under constraints, and how these choices determine outcomes in markets. You learn to analyse consumer behaviour, including how people respond to changes in prices and income and how preferences influence demand. You study how firms make production and pricing decisions, how markets aggregate individual choices, and how different market structures - from perfect competition to monopoly and oligopoly - affect welfare and efficiency. </p><p>You are also introduced to concepts such as risk, strategic interaction and general equilibrium, helping you understand real-world complexities like uncertainty, fairness and market interdependence. Through problem-solving and graphical and mathematical analysis, you build skills to evaluate economic trade-offs and explain the rationale behind observed behaviour in markets. </p><p>This course is essential preparation for more advanced studies in economics or applied policy work.</p>