Markets and Frictions
Area of Study
Taught In English
ECON2101 or ECON2112
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewThis is a course in intermediate to advanced microeconomics. It builds on Microeconomics 2 and studies markets and their equilibrium and efficiency properties when lowering standard assumptions of no frictions, complete information, etc. Topics will include a selection from the following: the interaction between different markets (general equilibrium theory), markets with search frictions or capacity constraints, bargaining, externalities, public goods, and social choice. The course provides students with advanced tools and models of microeconomic analysis, allowing for a deeper understanding of the functioning of real-world markets.
Courses and course hours of instruction are subject to change.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.