Rational Economic Decision-Making

Micro – Individual Economic Decision-Making

In this course, Dr Maija Halonen-Akatwijuka (University of Bristol) explores the topic of individual economic decision-making. In the first module, we look at rational economic decision-making. After this, we look at indifference curves. Then, we focus on budget lines. In the penultimate module, we look at economic decision-making in market where asymmetric information exists. Finally, we look at behavioural economics.

Rational Economic Decision-Making

In this module, we look at rational economic decision-making. In particular, we focus on: (i) why its important to study how economic actors make decisions; (ii) how total and marginal utility work in economics; (iii) how utility works in relation to the price mechanism; and (iv) how utility links to the individual and market demand curves.