Microeconomics I

2022/2023

Academic Year

ENG

Instruction in English

7

ECTS credits

Delivered at:

Department of Economics

Course type:

Elective course

When:

1 year, 1, 2 module

Instructors

Molchanov, Pavel S.

Telekhov, Ignaty I.

Tomskiy, Savva

Course Syllabus

Abstract

Microeconomics I is an introductory undergraduate course that teaches the fundamental tools of microeconomic analysis.

Learning Objectives

• On completion of the course 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 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.

Expected Learning Outcomes

• Knowledge of Microeconomics.
• Understanding of real-life economic problems.
• Ability to interpret economic policies through the lens of Microeconomics theory

Course Contents

• The basics of demand and supply.
• Producer behavior: technology, production function, isoquant, the technical rate of substitution, returns to scale, profit maximization, cost function, duality.
• Consumer behavior: budget constraint, preferences and utility function, indifference curve and the marginal rate of substitution, choice, types of goods.
• The analysis of competitive markets.

Assessment Elements

• Exam
• Seminars

Interim Assessment

• 2022/2023 2nd module
  0.4 * Seminars + 0.6 * Exam

Bibliography

Recommended Core Bibliography

• Intermediate microeconomics with calculus, Varian, H., 2014
• Microeconomic analysis, Varian, H., 1992

Recommended Additional Bibliography

• Микроэкономика : третий уровень, учебник : в 2 т., Т. 1, отв. ред. Г. М. Мкртчан, 525 с., Бусыгин, В. П., Желободько, Е. В., Цыплаков, А. А., 2008