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Economic Theory I

2019/2020
Учебный год
ENG
Обучение ведется на английском языке
4
Кредиты
Статус:
Курс по выбору
Когда читается:
1-й курс, 1, 2 модуль

Преподаватель

Course Syllabus

Abstract

The course consists of lectures (26 hours) and workshops (26 hours). The workshops involve discussions on actual economic topics of interest which are relevant to the course content. Working on practice problems provides students to use critical thinking and improve their mathematical abilities to solve Economics problems. In general, most students have to read the book, learn the powerpoint slides, work on the problem sets, and prepare for the tests and exams.
Learning Objectives

Learning Objectives

  • The goal of the course is to teach students the economic way of thinking about a business decision and strategies. Objectives of this course are: - to introduce a comprehensive set of tools required for manageres to make efficient business decisions; - to provide a real-world examples and necessary decision-making skills.
Expected Learning Outcomes

Expected Learning Outcomes

  • Use marginal analysis to determine the optimal level of a managerial control variable.
  • Identify the factors in a consumer demand and a producer supply, and determine a market equilibrium graphically and algebraically.
  • Apply basic estimation techniques in determining demand and supply functions.
  • Calculate different elasticities and use elasticity concepts to determine the optimal price-quantity combination to maximize revenues and profits.
  • Determine and analyze a production and costs in the short and long run.
  • Identify the different types of market structures and determine how a given market structure impacts on a firm’s quantity and pricing decisions.
  • Analyze the optimal quantity and pricing decisions of firms in different market structures (perfect competition, monopoly, monopolistic competition) to achieve profit maximization.
Course Contents

Course Contents

  • Introduction
  • Demand forecasting
  • Production and cost analysis
  • Market structure and pricing theory
Assessment Elements

Assessment Elements

  • non-blocking control test
  • non-blocking home assesment
  • non-blocking quizzes
  • non-blocking final exam
Interim Assessment

Interim Assessment

  • Interim assessment (2 module)
    0.25 * control test + 0.4 * final exam + 0.1 * home assesment + 0.25 * quizzes
Bibliography

Bibliography

Recommended Core Bibliography

  • Martin Kolmar. (2017). Principles of Microeconomics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.319.57589.6
  • Stiglitz, J. E. (2016). Principles of Economics (Vol. Second edition). Milton, Qld: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1650548

Recommended Additional Bibliography

  • Acemoglu, D., Laibson, D. I., & List, J. A. (2016). Economics, Global Edition (Vol. Global edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1419560
  • Henning Schwardt. (2017). The Path to a Modern Economics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sprbok.978.3.319.52785.7
  • 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