College ~30 hours
Microeconomics Mastery: Advanced Theory
For students who have finished introductory micro and want the deeper theory: constrained optimization, game theory, general equilibrium, and information economics. The mathematics stays purposeful — every technique is introduced to answer an economic question, from why monopolists price-discriminate to why markets unravel when buyers know less than sellers. Expect more algebra and logic puzzles here than in the intro paths, and use the simulators to keep the geometry behind the equations visible.
Steps
Step 1: The Optimization Toolkit
Constrained maximization is the engine of micro theory. Master the method before the applications.
Step 2: Advanced Consumer Theory
From utility functions to demand curves: income and substitution effects, revealed preference, and duality.
Step 3: Production and Cost Minimization
Production functions, isoquants, and the cost-minimizing input mix — the firm's problem solved.
Step 4: Competitive Equilibrium
Partial and general equilibrium: how all markets clear at once and what efficiency means.
Step 5: Monopoly and Price Discrimination
Market power in depth: barriers, first- through third-degree price discrimination, and regulation.
Step 6: Game Theory Essentials
The language of strategy: Nash equilibrium, repeated games, and credible commitments.
Step 7: General Equilibrium and Welfare
The two welfare theorems, Pareto efficiency, and the limits of what markets can achieve.
Step 8: Information Economics
Adverse selection, moral hazard, and signaling — what breaks when one side knows more.
Step 9: Externalities and Mechanism Design
From Pigouvian taxes to auctions: designing rules that align private incentives with social goals.
Step 10: Frontiers: Behavioral and Experimental
Where the standard model meets psychology and lab evidence — and what survives contact.