608.135 (24S) EC1: Microeconomics
Überblick
- Lehrende/r
- LV-Titel englisch EC1: Microeconomics
- LV-Art Vorlesung-Kurs (prüfungsimmanente LV )
- LV-Modell Präsenzlehrveranstaltung
- Semesterstunde/n 3.0
- ECTS-Anrechnungspunkte 6.0
- Anmeldungen 6
- Organisationseinheit
- Unterrichtssprache Englisch
- LV-Beginn 04.03.2024
- eLearning zum Moodle-Kurs
Zeit und Ort
LV-Beschreibung
Intendierte Lernergebnisse
This course rigorously advances the understanding of the modern microeconomic approach to decision making over the foundations provided in prerequisite bachelor courses. Topics included besides the standard treatment of households and firms are equilibrium analysis, uncertainty & ambiguity, social choice, game theory, as well as information economics. All theoretical models and constructs are motivated using real-world examples of managerial practice.
Course goal:
◮ The key concepts of (applied) microeconomic theory.
◮ The classic results of general equilibrium theory.
◮ The basic skills required to work on new problems in this field.
Lehrmethodik
The course introduces the basis for applied work at the intersection of computer science, economics, and business. Course participants will be encouraged to explore and present own research problems at the end of the course which will ideally evolve into the development of novel questions in the field (and related areas).
Inhalt/e
Utility & uncertainty
Utility
Expected utility
- Behavioral examples
Consumer theory
Utility maximization & Walrasian (Marshallian) demand
Expenditure minimization & Hicksian demand
- Slutsky equation
Producer theory
Cost minimization & conditional input demand
Profit maximization & unconditional input demand
Competitive firm & Partial equilibrium
- Competition & general equilibrium
Exchange economy & Edgeworth box: Pareto efficiency & Contract curve
Walrasian (competitive) equilibrium & Walras’ law
Excess demand & equilibrium existence: First & Second Welfare theorems
- Social choice & welfare
Voting: Majority rule, Condorcet’s paradox, & Median Voter theorem
Social welfare function & Arrow’s impossibility theorem
Social choice function & Gibbard-Satterthwaite theorem
Erwartete Vorkenntnisse
The content of the CBK1 & CBK2 modules is a strict prerequisite.
Curriculare Anmeldevoraussetzungen
The successful completion of the CBK1 & CBK2 modules is a strict prerequisite.
Literatur
Textbooks (required reading)
Jehle,G. & P. Reny (2011) Advanced Microeconomic Theory,Pearson, 3rd ed.
Mas-Collel, A., M. Whinston, & J. Green (1995) Microeconomic Theory, OUP.
Prüfungsinformationen
Prüfungsmethode/n
There will be a two-hour, closed-book final exam, tentatively scheduled one week after the last lecture of this course. This final exam is worth 70% of your grade. There will be some choice on the final exam: In total, you’ll have to answer three questions from a choice of four.
The problem sets are worth 30%. Hence, to get a good final grade, you need to perform well on both exam and problem sets.
Prüfungsinhalt/e
For the exam you will need to know the full content of the notes and problem sets.
Beurteilungskriterien/-maßstäbe
Final written exam 70%
Problem sets / report 30%
Beurteilungsschema
Note BenotungsschemaPosition im Curriculum
- Masterstudium Management, Economics, and Data Science
(SKZ: 946, Version: 23W.1)
-
Fach: Minitrack 4: Economics
(Wahlfach)
-
10.1 EC1: Microeconomics (
0.0h VC / 6.0 ECTS)
- 608.135 EC1: Microeconomics (3.0h VC / 6.0 ECTS) Absolvierung im 2-4. Semester empfohlen
-
10.1 EC1: Microeconomics (
0.0h VC / 6.0 ECTS)
-
Fach: Minitrack 4: Economics
(Wahlfach)