Economic Theory - Microeconomics

Course Description

This course gives students an overview of the microeconomics on the undergraduate/graduate level.

The literature comprises Friedman's book “Price Theory” which is based on a different idea of how economics should be taught--the idea that since answers are hard to remember and easy to look up, one should instead concentrate on learning ways of thinking. The book has two central purposes. The first is to introduce students the economic way of thinking- understanding human behavior. The second central purpose of the book is to teach students the analytical core of economics as it now exists. One of the features of economics that distinguishes it from most of the other social sciences is that it has a set of well worked out and closely related ideas that underlie almost everything done in the field. That core is price theory- the analysis of why things cost what they do and of how prices function to coordinate economic activity.

General arrangements

The lectures take place weekly. Please regularly, check the News section for updates.

We recommend our students to diligently and thoroughly read the following literature:

1. Friedman, David: Price Theory. An intermediate Text. Cincinnati, OH: South-Western Publishing Co.1986 (1990).

A number of copies of "Price Theory" is available at TU Bergakademie Freiberg library. An edition of the Price Theory is also available online for free.

The final exam lasts 90 minutes and requires a sound understanding of the concepts and ideas presented in the lectures. Students have the option to select 2 out of 3 questions asked. In order to answer the questions correctly, it is required from the students to have a sound understanding of the concepts and ideas presented and discussed during the lectures and tutorials. From this semester on we are offering open book exams. 

For questions about the course or organization please contact the tutor by using the section E-mail the tutor on the left menu bar.