COURSE OBJECTIVES/GOALS Advanced microeconomics II is designed to achieve the following objectives: 1. To expose students to the theories of determination of wages, rent, interest, and profit. 2. To introduce students to the concept of optimization in theories of consumption. 3. To guide students in the theory of economy efficiency. 4. To introduce students to the concept of externalities, social and private costs. 5. To raise the knowledge level of students on pareto optimum and social welfare functions C. COURSE OUTLINE WEEK TOPIC 1. Introduction to advanced microeconomics II 2. Theories of determination of wages, rent, interest, and profit 3. Optimization in theories of consumption and product 4. The notion of economy efficiency 5. Efficiency and equity 6. Externalities, social and private costs 7. Pareto optimum and social welfare functions