The unit aims to extend the theory of microeconomics topics developed in MAE101 to explain the behaviour of consumers and firms in the market system. The following topics are studied at an intermediate level: consumers make decisions; the firm and models of production; and the influence of markets structures on price and output levels. The unit goes beyond basic microeconomics to look at many issues in contemporary fields of economics. -- Course Website
Instructor: S Vaidya
Prerequisites: MAE101
