Microeconomics II

2022/2023

Academic Year

ENG

Instruction in English

4

ECTS credits

Delivered at:

Department of Economics

Course type:

Compulsory course

When:

2 year, 2, 3 module

Instructors

Butukhanov, Aleksandr V.

Коновалов Александр Викторович

Kuga, Iakov T.

Серебренников Иван Андреевич

Слепов Фёдор Антонович

Торпищев Тимур Ринатович

Course Syllabus

Abstract

This work program of the discipline establishes the minimum requirements for the knowledge and skills of the student, and also determines the content and types of training sessions and reporting. The program is intended for teachers who lead this discipline, teaching assistants and students of the direction of training economists studying the discipline "Microeconomics - 3 (finance and contracts)". The study of this discipline is based on the following disciplines: "Optimization", "Microeconomics-1", "Microeconomics-2", "Game Theory", "Probability Theory". The main provisions of the discipline should be used in future when studying the following disciplines: "Corporate Finance", "Theory of Finance-2", "Financial Markets", "Corporate Governance", "Theory of Industry Markets", "Public Sector Economics", "Labor Economics" ".

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
• Endowment: Buying and Selling
• 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

Bibliography

Recommended Core Bibliography

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

Recommended Additional Bibliography

• Microeconomic theory. Basic principles ahd extensions, Nicholson, W., 1998
• Microeconomics, Perloff, J.M., 2007

Authors

• BUTUKHANOV ALEKSANDR VLADIMIROVICH