“These notes are almost 24,000 words in length and span 80 pages. A friend who is sitting the unit has had them printed off and bound – she isn’t bothering with the textbook. Covers the MT of EC201 comprehensively, and incorporates some of the worked examples. I achieved a mark of 75 on this paper, in no small part because of the completeness of these notes.” ~ Note from the author and seller of these notes.
We highly recommend this revision guide to all students taking EC201.
Course content for EC201:
I. Consumer Theory. Utility functions and indifference curves. Income and substitution effects. The Slutsky equation. The expenditure function, compensating and equivalent variation, and consumer surplus. Selected applications to savings and labour supply, including the effects of taxes and benefits. II. Producer Theory. Production and cost functions. Firm and industry supply. Perfect Competition and Monopoly. III. Strategic Choice. Basic ideas in game theory. Applications to oligopoly and auctions. IV. General equilibrium and welfare. Competitive equilibrium. Efficiency of equilibrium. Welfare criteria. V. Topics in welfare economics. Public goods and externalities. VI. Uncertainty and information. Choice under uncertainty. Insurance markets. Asymmetric information. Loss Aversion. Moral Hazard.