Microeconomics II

2024/2025

Academic Year

ENG

Instruction in English

6

ECTS credits

Delivered at:

Department of Economics

Course type:

Compulsory course

When:

2 year, 2, 3 module

Instructors

Butukhanov, Aleksandr V.

Коновалов Александр Викторович

Максимцева Анна Викторовна

Мартынкина Екатерина Сергеевна

Rubin, Alexander

Серебренников Иван Андреевич

Course Syllabus

Abstract

Microeconomics II is the second part of the two-semester graduate-level course, which provides a rigorous treatment of microeconomic theory and its applications. We begin with aspects of production and cost that are common to all firms. Then we consider the behavior of perfectly competitive firms – a very special but very important class. We continue with studying of interaction of economic agents within partial and general equilibrium framework and evaluate this interaction from a social perspective. Finally, we study elements of the social choice theory and information economics.

Learning Objectives

• The objective of the course is to provide the students with a thorough knowledge and understanding of the foundations of modern economic analysis. The students will be introduced to the classical results and recent developments in microeconomic theory but the main focus will be on developing their modeling skills and encouraging them to think analytically about real world phenomena.

Expected Learning Outcomes

• TO STUDY HOW PRODUCTION AND BEHAVIOR OF COMPETITIVE FIRMS CAN BE MODELLED
• TO STUDY INTERACTION OF PRODUCERS AND CONSUMERS IN THE PARTIAL EQUILIBRIUM FRAMEWORK
• TO GET FAMILIAR WITH CLASSIC RESULTS OF THE GENERAL EQUILIBRIUM ANALYSIS AND THEIR APPLICATIONS
• TO GET FAMILIAR WITH FOUNDATIONS OF THE SOCIAL CHOICE THEORY
• TO STUDY MAIN CONSEQUENCES OF INFORMATION ASYMMETRIES ON ECONOMIC OUTCOMES

Course Contents

• THEORY OF THE FIRM
• PARTIAL EQUILIBRIUM
• GENERAL EQUILIBRIUM
• SOCIAL CHOICE AND WELFARE
• INFORMATION ECONOMICS

Assessment Elements

• Final 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.
• Quizzes
• Seminars
• Mid-term exam

Interim Assessment

• 2024/2025 3rd module
  0.4 * Final exam + 0.2 * Mid-term exam + 0.2 * Mid-term exam + 0.05 * Quizzes + 0.15 * Seminars

Bibliography

Recommended Core Bibliography

• Advanced microeconomic theory, Jehle, G.A., 2011

Recommended Additional Bibliography

• Advanced microeconomic theory, Jehle, G., 2000

Authors

• BRODSKAYA NATALYA NIKOLAEVNA
• Konovalov Aleksandr Viktorovich