040055 KU KU Applied Microeconomics (MA) (2021W)
Continuous assessment of course work
Labels
REMOTE
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 13.09.2021 09:00 to Th 23.09.2021 12:00
- Registration is open from Mo 27.09.2021 09:00 to We 29.09.2021 12:00
- Deregistration possible until Fr 15.10.2021 23:59
Details
max. 100 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Monday
04.10.
16:45 - 18:15
Digital
Tuesday
05.10.
13:15 - 14:45
Digital
Monday
11.10.
16:45 - 18:15
Digital
Tuesday
12.10.
13:15 - 14:45
Digital
Monday
18.10.
16:45 - 18:15
Digital
Tuesday
19.10.
13:15 - 14:45
Digital
Monday
25.10.
16:45 - 18:15
Digital
Monday
08.11.
16:45 - 18:15
Digital
Tuesday
09.11.
13:15 - 14:45
Digital
Tuesday
16.11.
13:15 - 14:45
Digital
Tuesday
16.11.
16:45 - 18:15
Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
Monday
22.11.
16:45 - 18:15
Digital
Tuesday
23.11.
13:15 - 14:45
Digital
Monday
29.11.
16:45 - 18:15
Digital
Tuesday
30.11.
13:15 - 14:45
Digital
Monday
06.12.
16:45 - 18:15
Digital
Tuesday
07.12.
13:15 - 14:45
Digital
Monday
13.12.
16:45 - 18:15
Digital
Tuesday
14.12.
13:15 - 14:45
Digital
Monday
10.01.
16:45 - 18:15
Digital
Tuesday
11.01.
13:15 - 14:45
Digital
Monday
17.01.
16:45 - 18:15
Digital
Tuesday
18.01.
13:15 - 14:45
Digital
Monday
24.01.
16:45 - 18:15
Digital
Tuesday
25.01.
13:15 - 14:45
Digital
Monday
31.01.
16:45 - 18:15
Digital
Monday
28.02.
09:45 - 11:15
Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
Information
Aims, contents and method of the course
Assessment and permitted materials
There will be two written exams (in person except for justified reasons), each worth 40%. In addition, there will be problem sets and readings to discuss. The grade of these will be 20%.The exam dates are:
Mid-Term:
Monday, November 15, 15.00 – 16.30 h, Hörsaal 14
or Monday, November 15, 16.45 – 18.15 h, Hörsaal 14
End-Term:
Tuesday, February 1, 11.30 – 13.00 h, Hörsaal 1Both the final and the midterm may be retaken in February, but only if you took part in the original exam. If the exam is retaken, the grade is automatically replaced by the new exam.
Mid-Term:
Monday, November 15, 15.00 – 16.30 h, Hörsaal 14
or Monday, November 15, 16.45 – 18.15 h, Hörsaal 14
End-Term:
Tuesday, February 1, 11.30 – 13.00 h, Hörsaal 1Both the final and the midterm may be retaken in February, but only if you took part in the original exam. If the exam is retaken, the grade is automatically replaced by the new exam.
Minimum requirements and assessment criteria
The grading will be as follows.
>85%, 1
70-85%, 2
60-70%, 3
50-60%, 4
less than 50%, 5.
>85%, 1
70-85%, 2
60-70%, 3
50-60%, 4
less than 50%, 5.
Examination topics
Topics.
1. Preferences and choice.
2. Allocations and Judgements.
3. Exchange Economies: Competitive Equilibrium and Welfare Theorems.
4. Production. Perfect and Imperfect Competition.
4. Labor markets and redistribution.
5. Limits to Markets: Externalities and Morals. Information Asymmetries.
1. Preferences and choice.
2. Allocations and Judgements.
3. Exchange Economies: Competitive Equilibrium and Welfare Theorems.
4. Production. Perfect and Imperfect Competition.
4. Labor markets and redistribution.
5. Limits to Markets: Externalities and Morals. Information Asymmetries.
Reading list
There is no single book that covers the topics in this course. I have prepared a reference list with three main strands.
1. Resources to understand key concepts:
Varian's 'Intermediate Microeconomics' provides a comprehensive and easily accessible introduction to the main concepts of the course, while his (Varian's) Microeconomic Analysis provides a deeper level coverage of the same topics. The level of the course will lie somewhat in between these two books.
Ariel Rubinstein's book is available online and is at a similar level as Varian's Microeconomic Theory (you can download it here https://www.openbookpublishers.com/product/1171)
The connection with empirical work in these books is scant; a good reference in this regard is this collection of lecture notes (https://ocw.mit.edu/courses/economics/14-03-microeconomic-theory-and-public-policy-fall-2016/lecture-notes/ )
2. Questions-Based Books:
Pancs' "Lectures in Microeconomics" is more advanced and has a more modern focus. We will follow the "questions approach" in this book but at a lower level of sophistication. The CORE-Econ Project (available here https://www.core-econ.org/) provides a good introduction to some of the topics but a more superficial level.
3. Mathematical Tools: For students who are interested in obtaining a deep understanding of economic theory but have a weaker math background, I recommend Simon and Blume's "Mathematics for Economists" (in particular Chapters 1-5 and 14-17). For a very basic introduction to the mathematical tools that we will use, see the first chapter of Van Zandt's book ( https://faculty.insead.edu/vanzandt/teaching/FPM-Aug2012.pdf )4. In addition, these are required readings for specific classes (to be announced exactly when)
'The Use of Knowledge in Society' F. Hayek, AER 1945
'On The Economic Theory of Socialism' O. Lange, Restud 1936
"Why Surfers Should be Fed: The Liberal Case for an Unconditional Basic Income" Van Parijs, Philosophy and Public Affairs. 1991
'Lessons from the Kibbutz on the equality-incentives trade-off'. R. Abramitzky, JEP, 2011.
'What money can't buy: the moral limits of markets' The Tanner Lectures on Human Values, Oxford University, 1998 (also available as a book)
'Repugnance as a constraint to markets' A. Roth, JEP, 2007
'The Problem of Social Cost' by R. Coase, JLE, 1972. (pp. 1-28)
1. Resources to understand key concepts:
Varian's 'Intermediate Microeconomics' provides a comprehensive and easily accessible introduction to the main concepts of the course, while his (Varian's) Microeconomic Analysis provides a deeper level coverage of the same topics. The level of the course will lie somewhat in between these two books.
Ariel Rubinstein's book is available online and is at a similar level as Varian's Microeconomic Theory (you can download it here https://www.openbookpublishers.com/product/1171)
The connection with empirical work in these books is scant; a good reference in this regard is this collection of lecture notes (https://ocw.mit.edu/courses/economics/14-03-microeconomic-theory-and-public-policy-fall-2016/lecture-notes/ )
2. Questions-Based Books:
Pancs' "Lectures in Microeconomics" is more advanced and has a more modern focus. We will follow the "questions approach" in this book but at a lower level of sophistication. The CORE-Econ Project (available here https://www.core-econ.org/) provides a good introduction to some of the topics but a more superficial level.
3. Mathematical Tools: For students who are interested in obtaining a deep understanding of economic theory but have a weaker math background, I recommend Simon and Blume's "Mathematics for Economists" (in particular Chapters 1-5 and 14-17). For a very basic introduction to the mathematical tools that we will use, see the first chapter of Van Zandt's book ( https://faculty.insead.edu/vanzandt/teaching/FPM-Aug2012.pdf )4. In addition, these are required readings for specific classes (to be announced exactly when)
'The Use of Knowledge in Society' F. Hayek, AER 1945
'On The Economic Theory of Socialism' O. Lange, Restud 1936
"Why Surfers Should be Fed: The Liberal Case for an Unconditional Basic Income" Van Parijs, Philosophy and Public Affairs. 1991
'Lessons from the Kibbutz on the equality-incentives trade-off'. R. Abramitzky, JEP, 2011.
'What money can't buy: the moral limits of markets' The Tanner Lectures on Human Values, Oxford University, 1998 (also available as a book)
'Repugnance as a constraint to markets' A. Roth, JEP, 2007
'The Problem of Social Cost' by R. Coase, JLE, 1972. (pp. 1-28)
Association in the course directory
Last modified: Fr 12.05.2023 00:12
The course will consist of theory sections (lecture form) and practical sessions (recitation and discussions). The course will take place online (due to covid restrictions). All the materials will be available in Moodle before the class.
For those students who partake in the Masters in Applied Economics, there will be a separate "exercise course" (Ubung). This course is complementary but not necessary to follow it. It will consist of "empirical projects" that would enable you to relate the concepts discussed here with real-world phenomena.