040055 KU KU Applied Microeconomics (MA) (2022W)
Continuous assessment of course work
Labels
ON-SITE
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 12.09.2022 09:00 to Fr 23.09.2022 12:00
- Registration is open from We 28.09.2022 09:00 to Th 29.09.2022 12:00
- Deregistration possible until Fr 14.10.2022 23:59
Details
max. 100 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Tutorial:
DI 25.10.2022 09.45-11.15 Ort: Hörsaal 5 Oskar-Morgenstern-Platz 1
Erdgeschoß;
DI 08.11.2022 09.45-11.15 Ort: Hörsaal 14 Oskar-Morgenstern-Platz 1
2.Stock;
DI 06.12.2022 und 10.01.2023 09.45-11.15 Ort: Hörsaal 14
Oskar-Morgenstern-Platz 1 2.Stock;
MO 23.01.2023 09.45-11.15 Ort: Hörsaal 12 Oskar-Morgenstern-Platz 1
2.Stock
- Monday 03.10. 16:45 - 18:15 Digital
- Thursday 06.10. 11:30 - 13:00 Digital
- Monday 10.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 13.10. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 17.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 20.10. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 24.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 25.10. 09:45 - 11:15 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 27.10. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 31.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 03.11. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 07.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 08.11. 09:45 - 11:15 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 10.11. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 14.11. 16:45 - 18:15 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 21.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 24.11. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 28.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 05.12. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 06.12. 09:45 - 11:15 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Monday 12.12. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 15.12. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 09.01. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 10.01. 09:45 - 11:15 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Thursday 12.01. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 16.01. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 19.01. 11:30 - 13:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 23.01. 09:45 - 11:15 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
-
Monday
06.03.
11:30 - 13:00
Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Seminarraum 6 Oskar-Morgenstern-Platz 1 1.Stock
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 dates for the exams are
Mid-Term:
Monday, November 14, 16.45 – 18.15 h, Hörsaal 1
End-Term:
Tuesday, January 24, 13.15 – 14.45 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 14, 16.45 – 18.15 h, Hörsaal 1
End-Term:
Tuesday, January 24, 13.15 – 14.45 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. Rationality. Demand Theory. Aggregation.
2. Allocations. Fairness and Efficiency. Exchange Economies.
3. Competitive Equilibrium and Welfare Theorems in Exchange Economies. Partial Equilibrium Analysis.
4. Production. Technology and Cost. Misallocation and Trade. Firm Optimization. Perfect and Imperfect Competition.
4. Labor markets. Heterogeneous workers. Monopsony Power. Policy Evaluation.
5. Market Failures. Externalities. Information Asymmetries.
1. Preferences and choice. Rationality. Demand Theory. Aggregation.
2. Allocations. Fairness and Efficiency. Exchange Economies.
3. Competitive Equilibrium and Welfare Theorems in Exchange Economies. Partial Equilibrium Analysis.
4. Production. Technology and Cost. Misallocation and Trade. Firm Optimization. Perfect and Imperfect Competition.
4. Labor markets. Heterogeneous workers. Monopsony Power. Policy Evaluation.
5. Market Failures. Externalities. 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: Th 11.05.2023 11:27
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.