Кто читает:: Департамент бизнес-информатики

Статус:: Курс обязательный

Когда читается:: 1-й курс, 1, 2 модуль

Преподаватель

Федоровых Данил Александрович

Full Syllabus

Abstract

Microeconomics is a field that tries to understand, explain, and predict the behaviour of consumers and producers under different market circumstances. Covering major topics of standard undergraduate Microeconomics courses, this course focuses on Market Theory (theory of Industrial Organisation), which is a necessity for future managers. This field is concerned with the study of competition, strategic interaction in setting prices and outputs, investing in capacities, R&D, advertisement etc. We will discuss pricing strategies, non-price competition, entry, network effects, innovations, antitrust policies.

Learning Objectives

The main objective of taking this course for a student should be receiving basic understanding of Microeconomics, in particular market theory and its main developments. The course doesn’t offer any advanced material, but students will learn where to get it from if they need to. Market theory is essential for understanding competition, innovation races, mergers and acquisitions, firms’ entry and exit.

Expected Learning Outcomes

Solve a perfectly competitive firm optimisation problem
Solve for equilibrium at a perfectly competitive market
Understand the basics of the economic approach to human decision-making
Be aware of the basics of market structures theory: competition, monopoly, oligopolies
Make a market analysis using the theoretical background
Participate in basic debates about competition and pricing
Solve theoretical economic questions regarding perfect and imperfect competition
Understand firms’ pricing strategies
Use basic analytical tools of market analysis

Course Contents

Producer Theory: Revenues and Costs
Perfect Competition
Monopoly
Game Theory
Basic Oligopoly Models
Differentiation
Anticompetitive Behaviour
Mergers
Non-Price Competition
Network Effects
Consumer Choice
Market Failures. Externalities and Public Goods
Information Asymmetries
Projects in Market Analysis

Assessment Elements

Quizzes
Homework will be provided after the seminar classes devoted to solving theoretical questions. Students may solve the questions individually or in groups, nothing must be submitted for grading. Some seminar classes will start with quizzes which will be similar to questions from the latest homework. Students will have to provide solutions which will be graded.
Group presentations
4 seminar classes at the end of the course will be comprised of student group presentations. Students will be given some topic or case (e.g., of antitrust regulation enforcement) and will be expected to study them carefully in groups and present in class. The grade will be given to each group and will be equal for each student in a group.
Midterm exam
Midterm exam will consist of a few questions, both theoretical and applied. In some questions, students will be required to rigorously solve theoretical problem, in other they will have to provide verbal explanation of come phenomenon using the concepts studied in the course.
Final Exam

Interim Assessment

2022/2023 2nd module
0.29 * Quizzes + 0.21 * Group presentations + 0.3 * Final Exam + 0.2 * Midterm exam

Bibliography

Recommended Core Bibliography

Belleflamme, P., & Peitz, M. (2010). Industrial Organization : Markets and Strategies. Cambridge, UK: Cambridge eText. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=324082
Game theory for applied economists, Gibbons, R., 1992
Industrial organization : markets and strategies, Belleflamme, P., 2016
Industrial organization : theory and applications, Shy, O., 2001
Intermediate microeconomics : a modern approach, Varian, H. R., 2014
Pindyck, R. S., & Rubinfeld, D. L. (2015). Microeconomics, Global Edition (Vol. Global edition, Eighth edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419566

Recommended Additional Bibliography

Oz Shy. (1996). Industrial Organization: Theory and Applications. The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.mtp.titles.0262691795

Бакалаврская программа «Управление цифровым продуктом»

Контакты

Партнеры программы

Microeconomics