Microeconomics and Competitiveness

While sound macroeconomic policies, stable legal and political institutions, as well as improving social conditions, create the potential for competitiveness, wealth is actually created at the microeconomic level. This course explores the determinants of competitiveness and successful economic development viewed from a bottom-up, microeconomic perspective. It covers the patterns of supply and demand and the determination of output and prices. This includes production possibility frontier, elasticity of supply and demand, labor markets and minimum wage, indifference curves, costs, scale and timing, factors of production and types of market competition.