Study Material: Introduction to Microeconomics II OEC 107

This course unit (OEC 107) is an extension of the Introduction to Microeconomics part I (OEC 101). As such, it is strongly advised that students must first read and understand all lectures covered in the (OEC 101) before reading this course unit. The reason behind is that throughout this course unit, we will be using some concepts and theories that have been presented in the former course unit more often than not. Just like in the Introduction to Microeconomics part I (OEC 101), we wish to emphasize that all lectures contained in this reading material have been designed specifically for first year students in economics, business studies or other fields of studies in undergraduate programs, which include an introductory course in microeconomics. The general objective of this course unit is to impart students with adequate knowledge and skills, which will help them to understand theoretical foundation on the topics of markets, general equilibrium, welfare economics, public goods and externalities. The unit also prepares students for an intermediate microeconomic course, which demand rigorous quantitative techniques in solving and analyzing microeconomic problems