Микроэкономика 1

Бакалавриат 2022/2023

Статус: Курс обязательный (Международная программа по экономике и финансам)

Направление: 38.03.01. Экономика

Кто читает: Международный институт экономики и финансов

Где читается: Международный институт экономики и финансов

Когда читается: 2-й курс, 1-3 модуль

Формат изучения: с онлайн-курсом

Онлайн-часы: 16

Охват аудитории: для своего кампуса

Преподаватели: Автономов Юрий Владимирович, Белков Альберт Сергеевич, Ворчик Андрей Денисович, Королева Полина Анатольевна, Попова Валерия Сергеевна, Ракута Наталья Владимировна

Язык: английский

Кредиты: 5

Контактные часы: 78

Full 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

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

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

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

final spring exam
spring midterm test
winter exam
autumn midterm test
home assignment
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

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

Recommended Core Bibliography

Economics, , 2011

Recommended Additional Bibliography

Intermediate microeconomics : a modern approach, Varian, H. R., 2014
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

Course Syllabus