The course is designed to equip students with a microeconomic perspective of the blue economy. Topical issues to be discussed include the behaviour of consumers, firms, and government decisions and how these agents’ interactions affect the blue economy. The course will also provide students with strong microeconomic foundations that will be used to solve blue problems.
Objectives
The goal of this course is to enable students to:
- formulate microeconomic theories and models relating to the blue economy.
- apply the microeconomic perspective of the blue economy,
- analyse microeconomic models for blue policymaking.
Content
This course covers the foundations of microeconomic theory as they relate to the blue economy. It focuses on the behaviour of individuals, firms and the interaction of both in the marketplace. The course discusses demand and supply, production and cost theory. It also examines forms of market structure and how this impacts firm behaviour. Economics of information and game theory are also treated. Students will explore the role of government and non-governmental organisations and analyse the economic efficiency of assorted public policies in the blue economy.
Mode of Delivery
The mode of delivery of the course would take the form of face-to-face lectures, online lectures, seminars, class presentations, hands-on exercises and case studies.