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Course, academic year 2023/2024
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Advanced Microeconomics - JEM215
Title: Advanced Microeconomics
Guaranteed by: Institute of Economic Studies (23-IES)
Faculty: Faculty of Social Sciences
Actual: from 2021
Semester: winter
E-Credits: 9
Examination process: winter s.:
Hours per week, examination: winter s.:2/2, Ex [HT]
Capacity: 180 / 142 (185)
Min. number of students: unlimited
4EU+: no
Virtual mobility / capacity: no
State of the course: taught
Language: English
Teaching methods: full-time
Teaching methods: full-time
Additional information:
Note: course can be enrolled in outside the study plan
enabled for web enrollment
priority enrollment if the course is part of the study plan
Guarantor: doc. PhDr. Martin Gregor, Ph.D.
Teacher(s): doc. PhDr. Martin Gregor, Ph.D.
Tersoo David Iorngurum
prof. Ing. Karel Janda, Dr., Ph.D., M.A.
Diana Kmeťková, M.Sc.
Mgr. Vojtěch Mišák
Mgr. Matěj Opatrný, Ph.D.
Paulo Rotella Junior, Ph.D.
Iñaki Alberto Veruete Villegas
Class: Courses for incoming students
Incompatibility : JEM003
Is incompatible with: JEM003
Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)
We provide the rigorous theory of consumer and risk which serves as fundament for financial economics. We make an introduction to general equilibrium which is a basic ingredient in finance and applied macroeconomic modeling.
Aim of the course
Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)

First part of the course provides an introduction to microeconomics theory about consumer and risk. Second part of the course covers an introduction to general equilibrium. The theory of uncertainty and risk and general equilibrium under uncertainty serve as fundamental basis for modern finance theory. Therefore the relevance of general microeconomics theory to finance theory is emphasized in this class.

Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)

Main textbook: A. Mas-Colell, M. Whinston, and J. Green: Microeconomic Theory, Oxford University Press, 1995.

Supplementary textbook: JEHLE, Geoffrey Alexander. Advanced microeconomic theory. Pearson Education India, 2001.

Additional literature: S. LeRoy and J. Werner: Principles of Financial Economics 2nd edition, 2014.

J. Danthine and J. Donaldson: Intermediate Financial Theory 3rd edition, 2014.

Blavatskyy, P., Ortmann, A., & Panchenko, V. (2022). On the experimental robustness of the Allais paradox. American Economic Journal: Microeconomics, 14(1), 143-63.

Shepard, M. (2022). Hospital network competition and adverse selection: evidence from the Massachusetts health insurance exchange. American Economic Review, 112(2), 578-615

Fischer, P. E., & Verrecchia, R. E. (2000). Reporting bias. The Accounting Review, 75(2), 229-245.

Edmans, A., & Gabaix, X. (2016). Executive compensation: A modern primer. Journal of Economic Literature, 54(4), 1232-87.

Vedran Kojić, 2015. "Solving the utility maximization problem with CES and Cobb-Douglas utility function via mathematical inequalities," EFZG Working Papers Series 1504.

Microeconomics: Theory with Applications (8th Edition) 8th Edition

B. Curtis Eaton, Diane F. Eaton, Douglas W. Allen: Microeconomics: Theory with Applications 8th Edition, 2011, chapter 17 Choice Making Under Uncertainty

J. Levin: Choice under Uncertainty, Stanford, mimeo, 2006.

Teaching methods
Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)

Lectures, seminars, exams, activity.

Requirements to the exam
Last update: Mgr. Vojtěch Mišák (24.11.2023)

 Exam dates and content: (preliminary, subject to possible change)

Midterm 1: October 30, 2023 (MWG chapters 1-3)
Midterm 2: December 4, 2023  (MWG 6, 15, 16)

Exam 1st term: December 18, 2023 
Exam 2nd term: January 15, 2024
Exam 3rd term: January 29, 2024

Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)


JEM003, JEM215 - Advanced Microeconomics Fall 2023/24

See attached file.

Entry requirements
Last update: Mgr. Matěj Opatrný, Ph.D. (26.09.2023)

No entry requirements for Master students.

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