Course Details
Country:
Ireland
Institution:
University of Galway
Course Title:
Intermediate Microeconomics
Course Number:
EC269
Course Description:
This course is primarily focused on neo-classical choice theory, where the decision-making agents are consumers and firms. This approach assumes that all social outcomes are the result of rational self-regarding individual actions. The implication of this perspective for government policy is also addressed. We will also look at a competing paradigm, loosely defined as Critical Institutionalist/Evolutionary. Institutional theories assume that human motivation may be less narrowly egoistic (and materialistic), that preferences evolve, that social norms influence behaviour and that in the face of uncertainty, rationality can mean many types of conduct. The reason for introducing another paradigm is precisely because we question the notion that there is one correct way to interpret economic and social phenomena. This is important given that economics is a policy oriented discipline. It is also of normative consequence since government policies that facilitate or restrain markets, as well as policies regarding property rights determine individual
Language:
English
Approved Equivalent:
ECON 306
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