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Regular version of the site
Bachelor 2019/2020

Economics

Category 'Best Course for Career Development'
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Area of studies: Business Informatics
Delivered by: School of Business Informatics
When: 1 year, 3, 4 module
Mode of studies: distance learning
Instructors: Danil Fedorovykh
Language: English
ECTS credits: 4

Course Syllabus

Abstract

Economics is a science of decision making under resource constraints. In this introductory course, students learn how households, businesses, and governments make choices and interact in the economy. Students learn introductory economics without complicated mathematical models and develop the understanding of the subject from a general standpoint, see the big picture. The course aims to introduce the central concepts from various fields, including micro- and macroeconomics, game theory, institutional and development economics, behavioral economics.
Learning Objectives

Learning Objectives

  • Introduce the central concepts from various fields, including micro- and macroeconomics, game theory, institutional and development economics, behavioural economics
Expected Learning Outcomes

Expected Learning Outcomes

  • Be aware of the basics of economics, economic systems
Course Contents

Course Contents

  • What Economics is About
    A brief history of economic thought. Fields of studies. Positive and normative economics. Models and as if principle. Common myths about economics and economists
  • Choice
    How people make decisions. Trade-offs and opportunity costs. Rationality assumption. Incentives
  • Game Theory
    Definition of a game. Pure and mixed strategies. Nash Equilibrium. Normal and extended form games. Subgame perfection. Commitments
  • Specialization and Trade
    Absolute and comparative advantage. Gains from trade. Morden view on international trade
  • Markets
    Perfect competition and the invisible hand. Market power and imperfect competition. Government interventions
  • Market Failures
    Information asymmetry. Externalities and public goods. Coase theorem
  • Macroeconomic Data
    National accounts. Measuring income, inflation and unemployment
  • Development
    Growth and the role of technology. Description of the Solow model. Growth in different countries. Institutions — inclusive and extractive
  • Cycle
    Economic fluctuations. Crises. Keynes, Friedman and the Great Depression
  • Finance and Money Market
    Financial markets and instruments. Efficient market hypothesis. Bubbles. Banking system and market for money
  • Inequality
    Measuring inequality. Types of inequality and resulting incentives. Methods of reducing inequality
  • Economics and Friends
    Happiness studies. Normative criteria. Limited rationality and behavioral economics. Cross-disciplinary studies
Assessment Elements

Assessment Elements

  • non-blocking Essay 1
  • non-blocking Essay 2
  • non-blocking Project
  • non-blocking Exam
    Examination format: The exam is taken written (multiple choice questions, essay) with asynchronous proctoring. Asynchronous proctoring means that all the student's actions during the exam will be “watched” by the computer. The exam process is recorded and analyzed by artificial intelligence and a human (proctor). Please be careful and follow the instructions clearly! The platform: The exam is conducted on the StartExam platform. StartExam is an online platform for conducting test tasks of various levels of complexity. The link to pass the exam task will be available to the student in the RUZ. Students are required to join a session 15 minutes before the beginning. The computers must meet the following technical requirements: https://eduhseru-my.sharepoint.com/:b:/g/personal/vsukhomlinov_hse_ru/EUhZkYaRxQRLh9bSkXKptkUBjy7gGBj39W_pwqgqqNo_aA?e=fn0t9N A student is supposed to follow the requirements below: Prepare identification documents (а passport on a page with name and photo) for identification before the beginning of the examination task; Check your microphone, speakers or headphones, webcam, Internet connection (we recommend connecting your computer to the network with a cable, if possible); Prepare the necessary writing equipment, such as pens, pencils, pieces of paper, and others. Disable applications on the computer's task other than the browser that will be used to log in to the StartExam program. If one of the necessary requirements for participation in the exam cannot be met, a student is obliged to inform a professor and a manager of a program 2 weeks before the exam date to decide on the student's participation in the exams. Students are not allowed to: Turn off the video camera; Use notes, textbooks, and other educational materials; Leave the place where the exam task is taken (go beyond the camera's viewing angle); Look away from your computer screen or desktop; Use smart gadgets (smartphone, tablet, etc.) Involve outsiders for help during the exam, talk to outsiders during the examination tasks; Read tasks out loud. Students are allowed to: Write on a piece of paper, use a pen for making notes and calculations; Use a calculator; Connection failures: A short-term communication failure during the exam is considered to be the loss of a student's network connection with the StartExam platform for no longer than 1 minute. A long-term communication failure during the exam is considered to be the loss of a student's network connection with the StartExam platform for longer than 1 minute. A long-term communication failure during the exam is the basis for the decision to terminate the exam and the rating “unsatisfactory” (0 on a ten-point scale). In case of long-term communication failure in the StartExam platform during the examination task, the student must notify the teacher, record the fact of loss of connection with the platform (screenshot, a response from the Internet provider). Then contact the manager of a program with an explanatory note about the incident to decide on retaking the exam.
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.2 * Essay 1 + 0.2 * Essay 2 + 0.3 * Exam + 0.3 * Project
Bibliography

Bibliography

Recommended Core Bibliography

  • Riccardo Rebonato. (2018). The Economy: Economics for a Changing World. Quantitative Finance, (2), 183. https://doi.org/10.1080/14697688.2017.1406681

Recommended Additional Bibliography

  • Abraham, C. (2018). Principles of Macroeconomics. New Orleans, LA, USA: White Press Academics. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2267924