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Бакалавриат 2022/2023

Микроэкономика 1

Направление: 38.03.01. Экономика
Когда читается: 2-й курс, 1-3 модуль
Формат изучения: с онлайн-курсом
Онлайн-часы: 16
Охват аудитории: для своего кампуса
Язык: английский
Кредиты: 5
Контактные часы: 78

Course Syllabus

Abstract

Microeconomics-1 is a two-semester course for second year students. The first part covers all topics of the syllabus and the second part is devoted to supporting lectures. In the course of Microeconomics-1 students are expected to deepen their understanding of basic concepts, add further tools of analysis and develop their skills in applying theory to economic problems. Intermediate Microeconomics is a core discipline under world standards. It forms the basis of further economic studies in applied disciplines such as: industrial organisation, public sector economics, labour economics, international economics, corporate finance, development economics, etc. The course is taught in English. The students are also studying for a Russian degree in Economics, and knowing Russian terminology through reading in Russian is also required. Pre-requisites: Students are supposed to be competent in basic economic analysis and calculus. The course itself provides a basis (and so serves as a prerequisite) for Microeconomics 2.
Learning Objectives

Learning Objectives

  • to expand the students’ knowledge in the field of microeconomics and develop skills for analysis of real economic situations
  • to provide students with the knowledge of basic microeconomic models' assumptions, internal logic and predictions, grounding the explanations on intuitive and graphical approach with addition of some algebra and calculus studied simultaneously in the course of Mathematics for Economists
  • to develop the students' ability to apply the knowledge acquired to the analysis of specific economic cases, recognising the proper framework of analysis and constructing the adequate economic models within this framework
Expected Learning Outcomes

Expected Learning Outcomes

  • Ability to analyse the consumer’s problem. Understanding income and substitution effects.
  • Ability to analyse the firm’s profit maximisation problem in the short-run and the long-run, including cost minimisation. Ability to assess the effects of taxes and subsidies.
  • Recollection of basic concepts, such as opportunity cost.
  • Understanding how externalities and public goods create inefficiencies. Ability to analyse government interventions to correct inefficiencies
  • Understanding issues with analysing multiple markets simultaneously, and the fundamental welfare theorems. Ability to solve for general equilibrium
  • Understanding market behaviour under perfect competition. Ability to analyse efficiency, including economic surplus
  • Understanding monopolistically competitive and oligopolistic markets. Ability to analyse simple games, and determine their Nash equilibrium.
  • Understanding the difference between input and output markets. Ability to analyse perfectly competitive and monopsonistic labour markets.
  • Understanding the monopolist’s problem, and how it differs from perfect competition. Ability to analyse equilibrium, efficiency, and policy in a monopolistic market
Course Contents

Course Contents

  • Introduction to microeconomics.
  • Consumer choice.
  • The firm.
  • Perfect competition.
  • Monopoly.
  • Market structure and imperfect competition.
  • Inputs to production: the labour market.
  • General equilibrium and welfare economics.
  • Missing markets and the role of government.
Assessment Elements

Assessment Elements

  • non-blocking final spring exam
  • non-blocking spring midterm test
  • non-blocking winter exam
  • non-blocking autumn midterm test
  • non-blocking home assignment
  • non-blocking seminar activity
    In the Fall semester students may earn up to 5 bonus points for seminar activity. In the base-100 scale, each of these bonus points is counted as 20 (i.e., 1 bonus point = 20 points, 2 bonus points = 40 points, ..., 5 bonus points = 100 points).
Interim Assessment

Interim Assessment

  • 2022/2023 2nd module
    0.25 * autumn midterm test + 0.55 * winter exam + 0.15 * home assignment + 0.05 * seminar activity
  • 2022/2023 3rd module
    0.15 * spring midterm test + 0.5 * 2022/2023 2nd module + 0.35 * final spring exam
Bibliography

Bibliography

Recommended Core Bibliography

  • Economics, , 2011

Recommended Additional Bibliography

  • Lipsey, R., & Chrystal, A. (2015). Economics. Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.oxp.obooks.9780199676835