Microeconomics and Optimization

Micro economic theory for the consumers' demand (utility theory), the companies' supply (production theory)and micro economics for consumer choice (utility theory), production theory/supply curves and companies behaviour under various market conditions: ( free competition, monopoly and oligopoly). Game theory. Formulating and solving decision problems with both technical and economic aspects as mathematical optimisation problems. We will use commercial software for formulating and solving mathematical programs.

The objective is to give the students basic knowledge in economic theory and optimisation theory, and to give them some training in analyzing, modeling and solving decision problems with both technical and economic aspects.

Lectures, cases and exercises with and without computers. If there is a re-sit examination, the examination form may change from written to oral.