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Regular version of the site
Bachelor 2021/2022

Microeconomics-2

Type: Elective course (Economics)
Area of studies: Economics
When: 2 year, 1, 2 module
Mode of studies: offline
Open to: students of one campus
Language: English
ECTS credits: 6

Course Syllabus

Abstract

The course examines the organization of markets from a microeconomic perspective, the principles of microeconomic policy and the role of government in allocating scarce resources. The topics include: perfect competition, pricing in the presence of market power, monopolistic competition, oligopoly, game theory and factor markets, general equilibrium and efficiency, markets with asymmetric information, externalities and public goods. The course continues Microeconomics–1; however, it can also be treated as an independent discipline for exchange students. Module 1 (2) of this course corresponds to Module III (IV) of a generic undergraduate course in microeconomics. Prerequisites: Multivariable calculus; Microeconomics–1, including: consumer behaviour, intertemporal choice, uncertainty, production, perfectly competitive markets.
Learning Objectives

Learning Objectives

  • Understand basic real-world microeconomic problems
  • Develop critical thinking about economic matters
  • Be able to solve stylized microeconomic models
  • Evaluate different economic policies and trace how they affect social welfare
  • Understand the basic principles of strategic interaction
Expected Learning Outcomes

Expected Learning Outcomes

  • Be able to solve stylized microeconomic models
  • Develop critical thinking about economic matters
  • Evaluate different economic policies and trace how they affect social welfare
  • Understand basic real-world microeconomic problems
  • Understand the basic principles of strategic interaction
Course Contents

Course Contents

  • Introduction: Competitive Profit Maximization
  • Monopoly
  • Pricing with market power
  • Overview of strategic models
  • Static oligopolistic competition
  • Sequential move games
  • Repeated games
  • Factor markets with market power
  • General equilibrium and economic efficiency
  • Asymmetric information
  • Externalities
  • Public goods
Assessment Elements

Assessment Elements

  • non-blocking Home Assignments (Module 1)
    There are 3 home assignments in Module 1 ( (with the weights of 5%, 5% and 6% each) and 3 home assignments in Module 2 ( with the weights of 5%, 5% and 6% each). All submissions must be done electronically via Google Forms. Please, upload ONE file (max 20MB) per student! Each student can submit a problem set only once. Late submissions are not accepted and graded with zero points.
  • non-blocking Mid-Module Test (Module 1)
    In each module, there is a mid-term exam (its weight in the final grade is 29%). If the epidemiological situation permits, the test will be held offline. Otherwise, it will be held online in MS Teams and recorded. You have 80 minutes to solve problems and 10 minutes to submit the solutions electronically via Google Forms. Upload ONE file (max 20MB) per student! Each student can submit his/her solutions only once. In MS Teams, you must clearly state your name, surname and group. Before the test starts, you have to verify your personality by showing a student ID or a passport. During the test, your camera and microphone must be turned ON. If the examiner finds your room too noisy, he/she will first notify you about the necessity to keep silence. In case it does not have an effect, you test will be over before the official time elapses. If you finish earlier, you still have to wait until 80 minutes expire and then start the upload of your solutions. If you report any technical issues (no internet connection, a computer not working, etc.), this must be supported with proofs. For example, in the absence of internet connection, you can ask your provider to give you a report about network failures which happened on a certain date/time. There is no make-up for the mid-term test. If a student misses it without an official excuse, s/he gets zero for this course element. With an official excuse (e.g. illness with a valid medical proof), her or his final test score accounts for 84% (resp. 84%) of the Module 1 (resp. 2) grade. According to HSE regulations, cheating is not tolerated: if there is any evidence of misbehaviour (for example, identical wording, similar conceptual and/or numerical mistakes etc.), the test is automatically graded with zero points.
  • non-blocking Final Test (Module 1)
    The final test is a closed book exam (its weight in the final grade is 55%). If the epidemiological situation permits, the test will be held offline. Otherwise, the test will be held online in MS Teams and recorded. You have 80 minutes to solve problems and 10 minutes to submit the solutions electronically via Google Forms. Upload ONE file (max 20MB) per student! Each student can submit his/her solutions only once. In MS Teams, you must clearly state your name, surname and group. Before the test starts, you have to verify your personality by showing a student ID or a passport. During the test, your camera and microphone must be turned ON. If the examiner finds your room too noisy, he/she will first notify you about the necessity to keep silence. In case it does not have an effect, you test will be over before the official time elapses. If you finish earlier, you still have to wait until 80 minutes expire and then start the upload of your solutions. If you report any technical issues (no internet connection, a computer not working, etc.), this must be supported with proofs. For example, in the absence of internet connection, you can ask your provider to give you a report about network failures which happened on a certain date/time. According to HSE regulations, cheating is not tolerated: if there is any evidence of misbehaviour (for example, identical wording, similar conceptual and/or numerical mistakes etc.), then the test is automatically graded with zero points.
  • non-blocking Home Assignments (Module 2)
    There are 3 home assignments in Module 1 ( (with the weights of 5%, 5% and 6% each) and 3 home assignments in Module 2 ( with the weights of 5%, 5% and 6% each) . All submissions must be done electronically via Google Forms. Please, upload ONE file (max 20MB) per student! Each student can submit a problem set only once. Late submissions are not accepted and graded with zero points.
  • non-blocking Mid-Module Test (Module 2)
    In each module, there is a mid-term exam (its weight in the final grade is 29%). In Module 2, the test will be held in Smart LMS (with proctoring and recording in MS Teams). You have 80 minutes to solve problems; when the time elapses, your answers will be submitted automatically. In MS Teams, you must clearly state your name, surname and group. Before the test starts, you have to verify your personality by showing a student ID or a passport. During the test, your camera must be turned ON. If you report any technical issues (no internet connection, a computer not working, etc.), this must be supported with proofs. For example, in the absence of internet connection, you can ask your provider to give you a report about network failures which happened on a certain date/time. There is no make-up for the mid-term test. If a student misses it without an official excuse, s/he gets zero for this course element. With an official excuse (e.g. illness with a valid medical proof), her or his final test score accounts for 84% (resp. 84%) of the Module 1 (resp. 2) grade. According to HSE regulations, cheating is not tolerated: if there is any evidence of misbehaviour, the test is automatically graded with zero points.
  • non-blocking Final Test (Module 2)
    The final test is a closed book exam (its weight in the final grade is 55%). If the epidemiological situation permits, the test will be held offline. Otherwise, the test will be held online in MS Teams and recorded. You have 80 minutes to solve problems and 10 minutes to submit the solutions electronically via Google Forms. Upload ONE file (max 20MB) per student! Each student can submit his/her solutions only once. In MS Teams, you must clearly state your name, surname and group. Before the test starts, you have to verify your personality by showing a student ID or a passport. During the test, your camera and microphone must be turned ON. If the examiner finds your room too noisy, he/she will first notify you about the necessity to keep silence. In case it does not have an effect, you test will be over before the official time elapses. If you finish earlier, you still have to wait until 80 minutes expire and then start the upload of your solutions. If you report any technical issues (no internet connection, a computer not working, etc.), this must be supported with proofs. For example, in the absence of internet connection, you can ask your provider to give you a report about network failures which happened on a certain date/time. According to HSE regulations, cheating is not tolerated: if there is any evidence of misbehaviour (for example, identical wording, similar conceptual and/or numerical mistakes etc.), then the test is automatically graded with zero points.
Interim Assessment

Interim Assessment

  • 2021/2022 1st module
  • 2021/2022 2nd module
    0.275 * Final Test (Module 1) + 0.275 * Final Test (Module 2) + 0.08 * Home Assignments (Module 1) + 0.08 * Home Assignments (Module 2) + 0.145 * Mid-Module Test (Module 1) + 0.145 * Mid-Module Test (Module 2)
Bibliography

Bibliography

Recommended Core Bibliography

  • Микроэкономика, Пиндайк, Р. С., 2001
  • Микроэкономика. Промежуточный уровень. Современный подход : учебник для вузов, Вэриан, Х. Р., 1997

Recommended Additional Bibliography

  • Микроэкономика : задачи и решения: учеб. пособие для вузов, Левина, Е. А., 2007