After taking this course, students should have a sound knowledge of the key microeconomic theories and models and be able to apply it to practical examples. They should differentiate between alternative market structures (perfect competition, monopoly, monopolistic competition, and oligopoly) and derive the corresponding optimal price and output decisions. Further, they should analyse strategic behaviour in various market situations, understand basic concepts of game theory, and identify causes of market failures.

The final grade consists of the results of the exam (60% of the final grade), the student's presentations (15%), solving homework sets (15%), and in-class assignments (10%).

If you have a valid registration for the lecture, but will not participate, please deregister during the registration period of LPIS. Your place will be available for other students.

During the registration period, free places are filled according to the “first-come, first-served” principle. After the end of the registration period, the number of places is increased and students on the waiting list will be registered for the lecture based on their progress in their studies.

Attendance in the first session is necessary, absence without valid excuse will lead to deregistration! Any remaining places in the classes will be allocated to students attending the first session according to the waiting list. No places will be allocated by email or by phone.

Registration for the lecture cannot be guaranteed. Any student dropping out of the course who has already submitted a gradable task will receive a negative grade.

1	Author: Robert S. Pindyck, Daniel L. Rubinfeld Title: Microeconomics Publisher: Pearson Edition: 8th Year: 2013 Recommendation: Strongly recommended (but no absolute necessity for purchase)