Intermediate Microeconomics 7.5 credits

Important elements of the course are: - Decision-making by firms and consumers, - Alternative market forms, - Pricing practices, - Uncertainty and asymmetric information, - Public goods and market failures, - Principal-agent relationships, - Various mathematical techniques useful for microeconomic analysis **Connection to Research and Practice ** Analytical methods and model-based argumentation that are discussed in this course are the common language to communicate scientific results in business administration and economics. Learning such methods will enable students to read articles that are published in leading scientific journals – including theoretical studies in entrepreneurship, ownership, and renewal. By enabling students to access knowledge in academic journals, the course content aids students’ abilities to enhance their own learning experience. The course demonstrates, moreover, how to apply an appropriate theoretical framework to describe and explain a variety of real-world decisions in business administration and economics (e.g., consumption choices and optimal production plans). Analytical skills obtained in the course are also core competencies in many business environments.