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040046 UK Consumption, Production and Welfare B (MA) (2015W)
Continuous assessment of course work
Labels
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 14.09.2015 09:00 to Th 24.09.2015 14:00
- Deregistration possible until We 21.10.2015 23:59
Details
max. 50 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Lecture (Prof. Janssen):
Starts Oct 7:Wednesday, 09.45 - 11.15 h, Hörsaal 12, 2nd floorThursday, 11.30 - 13.00 h, Hörsaal 5, ground floorNote there will be no lectures on October 29, December 16, 17 and 18Exercise (Eryk Krysowski) starts Oct 10:Friday, 09.45 - 11.15 h, Hörsaal 3, ground floor- Wednesday 07.10. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 08.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 09.10. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 14.10. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 15.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 16.10. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 21.10. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 22.10. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 23.10. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 28.10. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Friday 30.10. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 04.11. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 05.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 06.11. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 11.11. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Friday 13.11. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 18.11. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 19.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 20.11. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 25.11. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 26.11. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 27.11. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 02.12. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 03.12. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 04.12. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 09.12. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 10.12. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 11.12. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Friday 08.01. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 13.01. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 14.01. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 15.01. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 20.01. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 21.01. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 22.01. 09:45 - 11:15 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
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Wednesday
27.01.
08:00 - 11:15
Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock - Thursday 28.01. 11:30 - 13:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 29.01. 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 also not part of the core of the course.
Assessment and permitted materials
Grading will be as follows. There will be one midterm (35%) and one 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 19. The final exam will be on January 28.
Minimum requirements and assessment criteria
Target group: Master B Students in Economics
Prerequisites: Bsc in Economics with Microeconomics and Game Theory.
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 active interaction during the lectures. When problems are discussed in the tutorials, students are expected to have 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
Contents: The recommended readings below give author's name and the sections or chapters 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.
Textbook: Gravelle, H. and R. Rees. 2004. Microeconomics (3rd edition). Prentice Hall.
Articles:
Choice under Uncertainty
Machina, M. 1987. Choice Under Uncertainty: problems solved and unsolved. Journal of Economic Perspectives 1, pp. 121-54.
Avery, Christopher, and Sarah Turner. "Student Loans: Do College Students Borrow Too Much Or 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. Economica 12, pp. 189-210.
Market design:
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.
Week Topic Literature
41 Introduction to Applied Microeconomics: what is a Market?
42 Consumer Choice I GR 2A-D
43 Consumer Choice II GR 3A-C
44 Lump-sum taxation or a value-added Tax? Example in class
45 Choice under Uncertainty, Only Lecture on Oct. 30) GR 17 A-E
46 (Policy relevance of) Choice under uncertainty,
why do people buy Insurance? GR 17 F,G Machina
47 Midterm November 19 (Question hour November 18)
48 Production decisions I GR 5, 6A-C
49 Production decisions II GR 7
50 Perfectly Competitive Markets GR 8
51 Monopoly and Oligopoly GR 9, 16
2 General Equilibrium and Welfare I GR 12
3 General Equilibrium and Welfare II GR 13, 14 A-C
4 Market Design and Auctions Klemperer, Gale and Shapley
5 Final Exam January 28 (Question hour January 27)
Textbook: Gravelle, H. and R. Rees. 2004. Microeconomics (3rd edition). Prentice Hall.
Articles:
Choice under Uncertainty
Machina, M. 1987. Choice Under Uncertainty: problems solved and unsolved. Journal of Economic Perspectives 1, pp. 121-54.
Avery, Christopher, and Sarah Turner. "Student Loans: Do College Students Borrow Too Much Or 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. Economica 12, pp. 189-210.
Market design:
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.
Week Topic Literature
41 Introduction to Applied Microeconomics: what is a Market?
42 Consumer Choice I GR 2A-D
43 Consumer Choice II GR 3A-C
44 Lump-sum taxation or a value-added Tax? Example in class
45 Choice under Uncertainty, Only Lecture on Oct. 30) GR 17 A-E
46 (Policy relevance of) Choice under uncertainty,
why do people buy Insurance? GR 17 F,G Machina
47 Midterm November 19 (Question hour November 18)
48 Production decisions I GR 5, 6A-C
49 Production decisions II GR 7
50 Perfectly Competitive Markets GR 8
51 Monopoly and Oligopoly GR 9, 16
2 General Equilibrium and Welfare I GR 12
3 General Equilibrium and Welfare II GR 13, 14 A-C
4 Market Design and Auctions Klemperer, Gale and Shapley
5 Final Exam January 28 (Question hour January 27)
Association in the course directory
Last modified: Mo 07.09.2020 15:28