Microeconomics I - JCM020

• Title: Mikroekonomie I
• Guaranteed by: CERGE (23-CERGE)
• Faculty: Faculty of Social Sciences
• Actual: from 2019
• Semester: winter
• E-Credits: 9
• Examination process: winter s.:
• Hours per week, examination: winter s.:4/2, Ex [HT]
• Capacity: 14 / unknown (20)
• Min. number of students: unlimited
• 4EU+: no
• Virtual mobility / capacity: no
• State of the course: taught
• Language: Czech
• Teaching methods: full-time
• Teaching methods: full-time
• 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. Mgr. Jakub Steiner, M.A., Ph.D.
• Teacher(s): prof. Avner Shaked; doc. Krešimir Žigić, Ph.D.
• Is pre-requisite for: JCM021

Descriptors

Last update: Mgr. Anna Papariga (15.09.2022)

This is the first course in the microeconomics sequence. The objective of the sequence in general and of the course in particular is to i) provide students with firm knowledge of the basic microeconomic theory, ii) provide students with grasp of relevant (micro)economic concepts on intuitive and formal level and iii) equip students with tools and techniques allowing them to conduct their own independent research.

 

The course is based on lectures and exercise sessions. Two lectures and one class take place in any given week.

 

Problem sets are integral part of the course. Students are required to complete problem sets and hand it in before the class (details to be specified). The classes might be devoted to the discussion of problem set solutions. Team-work on the problem sets is encouraged. Free-riding on the effort of team-mates is not.  Work on the problem sets is essential for grasping the course material and for exam preparation.

 

Literature

Last update: Mgr. Anna Papariga (15.09.2022)

1.       Osborne, Martin J. and Ariel Rubinstein. Models in Microeconomic Theory, Open Book Publishers, 2020

2.       Mas-Colell, Andreu; Michael D. Whinston and Jerry R. Green. Microeconomic Theory. Oxford University Press, 1995.

3.      Varian, Hal R.  Intermediate Microeconomics, W.W. Norton, 2014

4.      Sen, Amartya, Collective Choice and Social Welfare, Penguin, 2017

5.      Starr, Ross M. General Equilibrium Theory, An Introduction, CUP, 1997.

6.      Simon, Carl P. and Lawrence Blume. Mathematics for Economists. W. W. Norton, 1984.

 

Requirements to the exam

Last update: Mgr. Anna Papariga (15.09.2022)

Grades will be based on final and midterm exams and on the homework. (The concrete weights will be given in the class). The final exam will take place in week 13 (details to be specified). There will be midterm exam in week 6 or 7 (details to be specified) with structure similar to the final exam and hence indicative of students’ standing in the course. In addition, students are required to hand problem sets (as the scores on them will be part of the final grade).  The main books used in the course will be Osborne & Rubinstein’s and MasColell’s (nos. 1&2 in the list below)

 

Syllabus

Last update: Mgr. Anna Papariga (15.09.2022)

1. Consumers’ Theory (A. Shaked)

 

ü  Consumer’s Preference and Choice

ü  Collective Choice

ü  Revealed Preference

ü  Consumer’s Surplus and Aggregated Demand

ü  Intertemporal Choice

ü  Uncertainty and risk

2. Production (K. Žigić)

 

ü  Properties of Production Set

ü  Production Function

ü  Basics of Input-Output Analysis

ü  Elasticity of Substitution

ü  Profit Function and Its Properties

ü  Cost Function and Its Properties

 

3. Markets

 

ü  Competitive Markets (K. Žigić)

ü  Public Goods

ü  Externalities

ü  Exchange, Matching, Edgeworth Box (A. Shaked)

ü  General Equilibrium

 

If time permits: (A. Shaked)

 

Discriminating Monopolist

Behavioral Economics