040046 UK Consumption, Production and Welfare B (MA) (2014W)

12.00 ECTS (6.00 SWS), SPL 4 - Wirtschaftswissenschaften

Continuous assessment of course work

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Registration is open from Mo 15.09.2014 09:00 to We 24.09.2014 14:00
Deregistration possible until Tu 14.10.2014 23:59

Details

max. 50 participants

Language: English

Lecturers

Classes (iCal) - next class is marked with N

    
    Wednesday
    01.10.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    02.10.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    03.10.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    08.10.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    09.10.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    10.10.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    15.10.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    16.10.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    17.10.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    22.10.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    23.10.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    24.10.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    29.10.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    30.10.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    31.10.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    05.11.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    06.11.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    07.11.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    12.11.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    13.11.
    11:30 - 13:00
    Hörsaal 14  Oskar-Morgenstern-Platz 1  2.Stock
    
    Friday
    14.11.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    19.11.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    20.11.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    21.11.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    26.11.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    27.11.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    28.11.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    03.12.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    04.12.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    05.12.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    10.12.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    11.12.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    12.12.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    17.12.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    18.12.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    07.01.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    08.01.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    09.01.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    14.01.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    15.01.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    16.01.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    21.01.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    22.01.
    11:30 - 13:00
    Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    23.01.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Wednesday
    28.01.
    09:45 - 11:15
    Hörsaal 12  Oskar-Morgenstern-Platz 1  2.Stock
    
    Thursday
    29.01.
    11:30 - 13:00
    Hörsaal 15  Oskar-Morgenstern-Platz 1  2.Stock
Hörsaal 5  Oskar-Morgenstern-Platz 1  Erdgeschoß
    
    Friday
    30.01.
    09:45 - 11:15
    Hörsaal 3  Oskar-Morgenstern-Platz 1  Erdgeschoß

Information

Aims, contents and method of the course

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

Assessment and permitted materials

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.

Minimum requirements and assessment criteria

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

Examination topics

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.

Reading list

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.

Association in the course directory

Last modified: Mo 07.09.2020 15:28