Microeconomics

Market and budget constraints: Optimization and equilibrium, demand and supply curves, Pareto activity, constraints and budget balance. Preferences and Benefits: Choice assumptions, indifference curves, marginal rate of substitution, cardinal and ordinal utility, marginal utility and marginal rate of substitution. Explicit preferences and Slutsky equation: Explicit choice idea, WARP, SARP, substitution effect, income effect, total change in demand, compensated demand curves. Explicit preferences and Slutsky equation: Explicit choice idea, WARP, SARP, substitution effect, income effect, a total change in demand, compensated demand curves. Periodic selection and asset markets: Budget constraint and preference, Slutsky equation and intertemporal selection, present value, return rate, adjustment fortifications, Assets. Uncertainty: precautionary consumption, utility functions and probabilities, expected utility, avoidance of risk and risk dissipation, the role of stock market. Risky assets and consumer surplus: average variance benefit, risk measurement, balance with risky assets, discrete goods demand, constructing benefit from demand, compensating and balancing variability, consumer surplus.