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# Microeconomics II

2022/2023
Учебный год
ENG
Обучение ведется на английском языке
5
Кредиты
Статус:
Курс обязательный
Когда читается:
2-й курс, 2, 3 модуль

#### Преподаватели

Куга Яков Тойвович

### Course Syllabus

#### Abstract

The compulsory course is taught to the undergraduate students. The learning goals for this course include familiarizing students with the basic concepts of the microeconomic theory, developing skills of formal analysis of economic processes and phenomena at the micro level using models of the behavior of economic agents (consumers, firms, government), using economic theory to understand and evaluate policy proposals. It is assumed that students know the basics of differential calculus, optimization theory, and probability theory studied before.

#### Learning Objectives

• On completion of the course student will be able to formulate basic theories and models of microeconomics; apply various general equilibrium and trade theorems to predict the consequences of policy changes; use the Lagrange method to solve the system of first-order conditions and get a solution of the model and analyze properties of the solution; study the behavioral assumptions made about consumers and firms.

#### Expected Learning Outcomes

• Able to solve problems in professional spheres on the basis of analysis and synthesis

#### Course Contents

• Budget Constraint
• Preferences and Utility
• Consumer Choice and Demand
• Revealed Preference
• Income and Substitution Effects, and Slutsky Equation
• Consumer Surplus
• Production Functions
• Cost Functions
• Profit Maximization
• Partial Equilibrium Competitive Model
• General Equilibrium and Welfare
• Monopoly
• Oligopoly and Imperfect Competition
• Factor Markets

#### Assessment Elements

• In-class Participation
• Quizzes
• Mid-term
The assessment criteria for the mid-term and final exams are detailed solution that includes all the necessary formulas and calculations; graphs illustrating the problem with all the symbols; correct choice of the model for analysis; correct answer; interpretation of the results. The maximal grade for the final exam and each mid-term is 10 points.
• Exam
The assessment criteria for the mid-term and final exams are detailed solution that includes all the necessary formulas and calculations; graphs illustrating the problem with all the symbols; correct choice of the model for analysis; correct answer; interpretation of the results. The maximal grade for the final exam and each mid-term is 10 points.

#### Interim Assessment

• 2022/2023 3rd module
0.4 * Exam + 0.05 * Quizzes + 0.2 * Mid-term + 0.15 * In-class Participation

#### Recommended Core Bibliography

• Intermediate microeconomics with calculus, Varian, H., 2014
• Microeconomics, Gravelle, H., 1981
• Microeconomics, Gravelle, H., 1992