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EC101: Introductory Microeconomics


Course Content

This course seeks to introduce microeconomic analysis as a way of understanding the world. It exposes students to standard microeconomic theory with a focus on the development of economic intuition, whilst also providing certain economic tools that support this intuition along the way. The microeconomic mind-set helps students thinking about issues that are relevant empirically and for policy.

Topics covered will include:

  • Consumer behaviour
  • Theory of the firm
  • Competitive market equilibrium
  • Monopoly
  • Factor markets
  • General equilibrium theory
  • Welfare economics

Course Outcomes

One of the key outcomes of this course will be discovering when abstract models are useful and when they are not.  You will participate in class-based exercises that will enhance your understanding of these models through active engagement, rather than just passive reading or listening.

The course is aimed primarily at those who have not previously studied economics. It provides a foundation for further study in economics, but is sufficiently self-contained to provide grounding for those who do not intend to take the subject any further.

World-class LSE teaching              

The LSE Department of Economics is one of the biggest and best in the world, with expertise across the full spectrum of mainstream economics. A long-standing commitment to remaining at the cutting edge of developments in the field has ensured the lasting impact of its work on the discipline as a whole.

It is a leading research department, consistently ranked in the top 20 economics departments worldwide. This is reflected in the 2014 Research Assessment exercise which recognised the Department's outstanding contribution to the field

On this three week intensive programme, you will engage with and learn from full-time lecturers from the LSE’s economics faculty.


R. H. Frank, Microeconomics and Behaviour, (9th edition), McGraw-Hill (2014). [required]

H. R. Varian, Intermediate Microeconomics, (9th edition), Norton (2014). [recommended]

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice



Session: One

Dates: 19 June - 7 July 2017

Professor Ronny Razin
Dr Pasquale Schiraldi

Session: Three

Dates: 31 July - 18 August 2017

Professor Ronny Razin
Dr John Morrow

(Due to popularity, this course is repeated and can be taken in either of the sessions outlined above.)

Level: 100 level

Fees: Click here for information

Prerequisites: Working knowledge of mathematics (i.e. elementary calculus)

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Two written examinations

Typical credit**: 3-4 credits (US)
7.5 ECTS points (EU)

How to apply?

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*assessment is optional – see FAQs

**You will need to check with your home institution. Read more about credit transfer here.