Summary Principles of Microeconomics

Summary
2016
Sanne Bitter


Table of contents
Week 1: Introduction; markets, supply and demand 2

Week 2: Consumer behavior; individual and market demand 6

Week 3: Production, the cost of production, competitive supply 14

Week 4: Competitive markets 26

Week 6: Monopoly, price discrimination; monopolistic competition, dominant firm model,
oligopoly 29

Week 7: Game theory; externalities and public goods 37

Week 8: Uncertainty; asymmetric information 42

Definitions 46

Equations 55




1