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Předmět, akademický rok 2022/2023
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Advanced Microeconomics - JEM215
Anglický název: Advanced Microeconomics
Zajišťuje: Institut ekonomických studií (23-IES)
Fakulta: Fakulta sociálních věd
Platnost: od 2021
Semestr: zimní
E-Kredity: 9
Způsob provedení zkoušky: zimní s.:
Rozsah, examinace: zimní s.:2/2, Zk [HT]
Počet míst: 180 / 142 (185)
Minimální obsazenost: neomezen
Virtuální mobilita / počet míst: ne
Stav předmětu: vyučován
Jazyk výuky: angličtina
Způsob výuky: prezenční
Další informace: http://ies.fsv.cuni.cz/en/syllab/JEM003
Poznámka: předmět je možno zapsat mimo plán
povolen pro zápis po webu
při zápisu přednost, je-li ve stud. plánu
Garant: doc. PhDr. Martin Gregor, Ph.D.
Vyučující: 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.
Třída: Courses for incoming students
Neslučitelnost : JEM003
Je neslučitelnost pro: JEM003
Anotace - angličtina
Poslední úprava: SCHNELLEROVA (29.08.2019)
The course is divided into three parts. First, we quickly review the basic consumer theory and subsequently we provide the rigorous theory of risk which serves as fundament for financial economics. Second, we make an introduction to general equilibrium which is a basic ingredient in applied macroeconomic modeling. Third, the course introduces into key issues of asymmetric information and principle-agent problems.
Cíl předmětu - angličtina
Poslední úprava: SCHNELLEROVA (29.08.2019)

The course is divided into three parts. First, we quickly review the basic consumer theory and subsequently we provide the rigorous theory of risk which serves as fundament for financial economics. Second, we make an introduction to general equilibrium which is a basic ingredient in applied macroeconomic modeling. Third, the course introduces into key issues of asymmetric information and principle-agent problems.

Literatura - angličtina
Poslední úprava: SCHNELLEROVA (29.08.2019)

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

Metody výuky - angličtina
Poslední úprava: Mgr. Matěj Opatrný, Ph.D. (19.09.2022)

Lectures, seminars (including tutorials), homeworks and exams.

 

Important: On Monday (3.10.2022 at 8:00) prof. Janda starts his lecture in person. In case you are not able to attend the lecture you can connect via this link (link works for each session (lecture, seminars): https://teams.microsoft.com/l/meetup-join/19%3ameeting_MzE5N2Y5NTYtODA3OS00OTBhLWEwNmYtZDY4ZjQ3YTA3ZDgy%40thread.v2/0?context=%7b%22Tid%22%3a%22e09276da-f934-4086-bf08-8816a20414a2%22%2c%22Oid%22%3a%22d2bd181b-aae3-4364-a153-ded058e3178e%22%7d

Požadavky ke zkoušce - angličtina
Poslední úprava: prof. Ing. Karel Janda, Dr., Ph.D., M.A. (24.09.2021)

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

Exam 1: November 1, 2021 (MWG chapters 1, 2, 3)
Exam 2: November 15, 2021  (MWG 6)

Exam 3: December 6, 2021 (MWG 15, 19)
Exam 4: December 20, 2021 (MWG 15, 19, 13, 14)

There are no additional exams or make-up exams.

During the weeks of Exams, there is no lecture or discussion session, there is only Exam in that week.
Exams will be conducted online in Moodle 2 during the lecture time slot (8:00-9:20). You will receive the instruction about the exam during the week before.

Sylabus - angličtina
Poslední úprava: prof. Ing. Karel Janda, Dr., Ph.D., M.A. (24.09.2021)

 

JEM003, JEM215 - Advanced Microeconomics Fall 2021

Teachers: Karel Janda

Assistants: Matej Opatrny (Head TA), Mahir Suleymanov, Paulo Rotella

Covid19 measures: The lectures and discussion sessions are conducted in a regular physical presence format, however they are also broadcasted online via MS Teams. You may connect via this link (this link works for each session (lecture, seminars and tests) until 20.12): https://teams.microsoft.com/l/meetup-join/19%3ameeting_YzNjNTMwZGQtNzBkNS00YmRmLTk5OTItZmRmN2M1NTQ4NDU4%40thread.v2/0?context=%7b%22Tid%22%3a%22e09276da-f934-4086-bf08-8816a20414a2%22%2c%22Oid%22%3a%22d2bd181b-aae3-4364-a153-ded058e3178e%22%7d

All 4 exams will be conducted online through Moodle 2 platform. You have to register for Moodle 2.

Obviously, anything can change any time due to Covid 19.

Lecture: 8:00-9:20 room 109. Discussion Session: 9:30-10:50 room 314. There is no regular Discussion Session in the time slot 11:00 - 12:20.  This time slot 11:00 - 12:20  may be used for  make-up lectures or make-up discussion sessions.

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

Contact information:
E-mail: Karel-Janda@seznam.cz 
Office Hours: 
Monday  9:30-11:30, room 408, Opletalova 26;
Tuesday 12:20-14:20  room 182NB, W. Churchilla Square 4.
Explanations:
W.Churchilla Square 4 is the main building of University of Economics, Prague.
Opletalova 26 is the building of Institute of Economic Studies of Charles University.
I have no office hours during the following periods: September 27, December 20-February 8.
 

About the class:
First part of the course provides a rigorous, mathematically formulated theory of consumer choice in the non-strategic setting. It is essentially a review and extension of intermediate micro in a more rigorous form. This part of the course also provides the introduction to the rigorous theory of uncertainty and risk. This theory serves as fundamental basis for the finance theory. Second part of the course covers an introduction to general equilibrium. The relevance of the general theory to the modern finance theory is emphasized. The third part of course deals with information asymmetry (moral hazard, adverse selection).

Topics Covered 
Preferences and Choice 
- Preference Relation. 
- Choice Rules. 
- The Relation between Preference Relations and Choice Rules. 
Consumer Choice. 
- Consumption Set. 
- Competitive Budgets. 
- Demand Functions and Comparative Statics. 
- Weak Axiom of Revealed Preferences and Law of Demand. 
Classical Demand Theory. 
- Basic Properties of Preference Relations. 
- Preference and Utility. 
- The Utility Maximization Problem. 
- The Expenditure Minimization Problem. 
- Relationship between Demand, Indirect Utility and Expenditure Functions. 
- Welfare Evaluation of Economic Changes. 
- Integrability.
- Strong Axiom of Revealed Preferences. 
Uncertainty.
- Expected Utility Theory
- Money Lotteries and Risk Aversion
- Comparison of Payoff Distributions in Terms of Return and Risk
-State Dependent Utility, Subjective Probability Theory
General Equilibrium.
- Exchange.
- Welfare theorems.
- Production.
- General Equilibrium under uncertainty.

Asymmetric information.

 

Parts of MWG textbook required for exams:

Chapters 1 and 2 – all sections

Chapter 3 -  all sections except 3.F (Duality: A Math Intro)

Chapter 6 – all sections

Chapter 15 – only sections B and C

Chapter 19 – all sections except 19 G (Firm Behavior)

Chapter 14 – all sections  except 14. D (Hidden Actions and Hidden Information: Hybrid Models)

Chapter 13 – will be required only if explicitly announced before the exam (i.e. most likely we will not cover any part of this chapter and we will not require anything from this chapter for any exam).

 


Expected timing:
Lectures 1-2: Mas-Colell, Whinston, Green (MWG) chapters 1, 2.
Lecture 3: MWG chapter 3
Lectures 4-5: MWG chapter 6
Lecture 6: MWG chapter 15. B
Lecture 7: MWG chapters 15. C, 19
Lectures 8-9: MWG chapter 19

Lectures 10: MWG chapters 13, 14. (subject to adjustment according to time available)

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

Exam 1: November 1, 2021 (MWG chapters 1, 2, 3)
Exam 2: November 15, 2021  (MWG 6)

Exam 3: December 6, 2021 (MWG 15, 19)
Exam 4: December 20, 2021 (MWG 15, 19, 13, 14)

There are no additional exams or make-up exams.

During the weeks of Exams, there is no lecture or discussion session, there is only Exam in that week.
Exams will be conducted online in Moodle 2 during the lecture time slot (8:00-9:20). You will receive the instruction about the exam during the week before.

Libraries, teaching texts availability:
There are libraries with books relevant to our class both at University of Economies and Institute of Economic Studies. I asked the librarians at Institute of Economic Studies to put one copy of the main textbook for our class on reserve. In addition, the best economic library in Prague is at CERGE-EI on Politickych veznu 7 street. The CERGE-EI library has all the books relevant for our class, some of them available for take-home loans.

The students are evaluated according to online exams.
There will be 4 exams available to take for this class. Only two exams with highest score will be used for determining your grade.

90+ to 100 is A, 80+ to 90 is B, 70+ 80 is C, 60+ to 70 is D, 50+ to 60 is E, under 50 is Fail (F). This means that borderline results are assigned the lower grade (e.g. 90 is B).

(Example: Student obtains the following points: Exam 1=42 points. Exam 2 = 45 points, Exam 3 = 40 points, Exam 4 = 0 points. His score is 87 points with a grade B).


Cheating or other academic dishonesty during exam implies 0 for a particular exam and 10 points taken away from total in the case of slight dishonesty (20 points in the case of serious dishonesty). Any communication among the students during the exam is considered as cheating. Therefore during the exam communicate only with the exam supervisor. You may take watch and simple calculator for exams. Do not take any mobile phones or any other electronic devices for exams.

COVID 19 MAY CHANGE ANYTHING IN THIS SYLLABUS

Vstupní požadavky - angličtina
Poslední úprava: SCHNELLEROVA (29.08.2019)

No entry requirements for Master students.

 
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