Universität Wien

040046 UK Consumption, Production and Welfare B (MA) (2013W)

12.00 ECTS (6.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung

Note there will be no lectures on October 24, October 30, November 14, November 28. The lecture on October 31 and the exercise class on November 1 will be interchanged.

An/Abmeldung

Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").

Details

max. 50 Teilnehmer*innen
Sprache: Englisch

Lehrende

Termine (iCal) - nächster Termin ist mit N markiert

  • Mittwoch 02.10. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 03.10. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 09.10. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 10.10. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 11.10. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 16.10. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 17.10. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 18.10. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 23.10. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 24.10. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 25.10. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 30.10. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 31.10. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 06.11. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 07.11. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 08.11. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 13.11. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 14.11. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 15.11. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 20.11. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 21.11. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 22.11. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 27.11. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 28.11. 12:00 - 14:00 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
    Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 29.11. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 04.12. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 05.12. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 06.12. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 11.12. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 12.12. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 18.12. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 08.01. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 09.01. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 10.01. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 15.01. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 16.01. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 17.01. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 22.01. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 23.01. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 24.01. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Mittwoch 29.01. 10:00 - 12:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
    Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
  • Donnerstag 30.01. 12:00 - 14:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Freitag 31.01. 08:00 - 10:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock

Information

Ziele, Inhalte und Methode der Lehrveranstaltung

Course Summary: this applied microeconomics course provides an overview of the microeconomic theory that is useful to know when you are working as an economist in a firm, or for a government organization. The course provides the theory, but also shows how the theory can be applied to real world examples/cases. The course deals with the classic content of microeconomics: how consumers make consumption choices, how producers make production choices, and how the market coordinates these choices. Welfare properties of perfectly competitive market allocations are also discussed. Strategic behavior is not part of this course, and asymmetric information issues are are also not part of the core of the course.

Contents: The recommended readings below give author's name and the sections orchapters in the corresponding book;.

Course outline: This course combines a treatment of the classical microeconomics topics on consumer behaviour, producer behaviour and welfare economics, with a discussion of how these fundamental notions can be applied or are used to address important policy issues. The lectures combine a treatment of the theory and an In-depth discussion of some relevant cases.

Week Topic Literature
40 Introduction to Applied Microeconomics: what Is a Market?
41 Consumer Choice I JR, chapter 3
42 Consumer Choice II JR, chapter 3
43 Lumpsum taxation or a value-added Tax? (only Wednesday Lecture)
44 Choice under Uncertainty (Lecture on Friday November 1) JR, chapter 4.4
45 Policy relevance of Choice under uncertainty Machina
46 Economie of State Lotteries (only Wednesday Lecture), why do people buy Insurance? Clottfelter
47 Production decisions I JR, chapter 5
48 Question session (November 27) and Midterm (November 28)
49 Production decisions II JR, chapter 5
50 Perfectly Competitive Markets JR, chapter 6
51 Welfare Theorems and general equilibrium JR, chapter 7.1, 7.2 and 7.4
2 The Emergence of Markets In Practice Cheung, Radford
3 Market Design and Auctions I:
4 Market Design and Auctions II: Greenhouse gas emissions Baicker et al.
5 Final Exam January 29

Art der Leistungskontrolle und erlaubte Hilfsmittel

There will be one midterm (35%) andone final exam (45%). In addition, students have to submit one homework sets and be active in the tutorials by providing solutions in class (10%) and have to write one small essay (3-4 pages) analyzing a recent issue that has been in the news from a microeconomic perspective (10%). The midterm will be on November 28. The final exam will be on January 29.

Mindestanforderungen und Beurteilungsmaßstab

Target group: Master B Students in Economics
Prerequisites: Bsc in Economics with Microeconomics and Game Theory.

Prüfungsstoff

Format: The topics of the course will be presented by the lecturer. Problem sets will bedistributed regularly through the course website and in the tutorials. Students are expected to read the material in advance of the classes so that there can be activeinteraction during the lectures. When problems are discussed in the tutorials, students are expected tohave worked on the problem sets in advance. Students are also expected to do be handing in two homework sets and one small essay.

Literatur

Text book: Jehle, G. and Ph. Reny. Advanced Microeconomic Theory (2nd edition). Pearson.
Articles:
Choice under Uncertainty
Machina, M. 1987. Choice Under Uncertainty: problems solved and unsolved. Journal of Economic Perspectives1, pp. 121-54.
Clotfelter, C. and P. Cook.On the Economics of State Lotteries.Journal of Economic Perspectives4, pp. 105/19.
Avery, Christopher, and Sarah Turner. "Student Loans: Do College Students Borrow Too MuchOr Not Enough?." The Journal of Economic Perspectives 26.1 (2012): 165-192.
On markets and welfare:
Cheung, S. 1973. The Fable of the Bees.Journal of Law and Economics16, pp. 11-33
Radford, R. 1945. The Economic Organization of a P.O.W. Camp.Economica12, pp. 189-210.
Market design:
Baicker, Katherine, and Dana Goldman. "Patient cost-sharing and health care spending growth." Journal of Economic Perspectives 25.2 (2011): 47-68.
David Gale and Lloyd Shapley, "College Admissions and the Stability of Marriage," American Mathematical Monthly, 69, 1962, pp. 9-15.
Klemperer, Paul, "What Really Matters in Auction Design," Journal of Economic Perspectives, 2002.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Mo 07.09.2020 15:28