- Introduction. Scarcity and resource allocation.
- Household Economics: Preferences, utility function, budgetary restriction, consumer choice, individual demand, duality in consumer theory, income and substitution effects, aggregate demand and the agricultural HH model.
- Choice under uncertainty.
- Production and Cost Theory: Production function. Cost minimization: Inputs demand, cost function. Profit maximization: Supply function.
- Competitive Markets: Equilibrium and welfare.
- Strategic Interaction and Market Power
- Markets with Asymmetric Information. Hidden characteristics: Adverse Selection. Hidden characteristics: Signaling. Hidden actions: Moral Hazard.