Bachelor
2020/2021
Microeconomics II
Type:
Compulsory course (Economics)
Area of studies:
Economics
Delivered by:
Department of Economics
When:
2 year, 2-4 module
Mode of studies:
offline
Language:
English
ECTS credits:
8
Contact hours:
138
Course Syllabus
Abstract
The compulsory course is taught to the undergraduate students. The learning goals for this course include: familiarizing students with basic concepts of the microeconomic theory, development skills of formal analysis of economic processes and phenomena at the micro level using models of the behavior of economic agents (consumers, firms, government), and using economic theory to understand and evaluate policy proposals
Learning Objectives
- know the basics of differential calculus, optimization theory, and probability theory studied before. Evaluation activities consist of three control works, mid-term exams, and final exam.
Expected Learning Outcomes
- student will be able to formulate basic theories and models of microeconomics; to apply the various general equilibrium and trade theorems in order to predict the consequences of policy changes
- to differ sequential and simultaneous games, and define Nash equilibrium
- to explain economic outcomes using the basic theories of risk, externalities, public goods, and oligopoly
- to use a Lagrange method, solve the system of first-order conditions to get a solution to a model, and analyze properties of the solution
- to know the behavioral assumptions economics makes about consumers and firms
Course Contents
- Revealed Preference
- Preferences and Utility
- Production Functions
- Consumer Choice and Demand
- Cost Functions
- Income and Substitution Effects, and Slutsky Equation
- Profit Maximization
- Consumer Surplus
- General Equilibrium and Welfare
- Endowment: Buying and Selling
- Oligopoly and Imperfect Competition
- Asymmetric Information
- Externalities and Public Goods
- Choice under Uncertainty
- Partial Equilibrium Competitive Model
- Factor Markets
- Monopoly
- Budget Constraint
Assessment Elements
- Control work (mid-term) 1
- Control work (mid-term) 2
- Control work (mid-term) 3
- ExamThe duration of the final exam is 2 hours. The exam is conducted in writing using LMS platform and MS Teams. You must connect to the exam 15 minutes before the start. Students are allowed to use their notes during the exam.Student's computer must meet the requirements: (https://elearning.hse.ru/data/2020/05/07/1544135594/Технические%20требования%20к%20ПК%20студента.pdf ) During the exam, students are prohibited from: communicating (on social networks, with people in the room), writing off. A short-term communication disruption during the exam is considered interruption of communication up to 10 minutes. A long-term communication disorder during an exam is considered to be a communication interruption of 10 minutes or more. In case of a long-term communication disruption, the student cannot continue to participate in the exam. The transfer procedure is similar to the surrender procedure.
- In-class Participation (seminars)
Interim Assessment
- Interim assessment (4 module)0.15 * Control work (mid-term) 1 + 0.15 * Control work (mid-term) 2 + 0.2 * Control work (mid-term) 3 + 0.4 * Exam + 0.1 * In-class Participation (seminars)
Bibliography
Recommended Core Bibliography
- Hugh Gravelle, & Ray Rees. (2004). Microeconomics. Harlow: Financial Times/ Prentice Hall. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1417798
Recommended Additional Bibliography
- Schwartz, R. A., Maksimenko, T., & Carew, M. G. (2010). Micro Markets Workbook : A Market Structure Approach to Microeconomic Analysis. Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=319450