040055 KU KU Applied Microeconomics (MA) (2023W)
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 11.09.2023 09:00 to Fr 22.09.2023 12:00
- Registration is open from Tu 26.09.2023 09:00 to We 27.09.2023 12:00
- Deregistration possible until Fr 20.10.2023 23:59
Details
max. 200 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Retakes:
MO 12.02.2024 09.45-11.15 Ort: Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Monday 02.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 05.10. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 09.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 12.10. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 16.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 19.10. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 23.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 27.10. 09:45 - 11:15 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
- Monday 30.10. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 06.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 09.11. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 10.11. 09:45 - 11:15 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Monday 20.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 23.11. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 27.11. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 30.11. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 04.12. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 07.12. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 11.12. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 14.12. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 15.12. 09:45 - 11:15 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Monday 08.01. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 11.01. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 15.01. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 18.01. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 25.01. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 26.01. 11:30 - 13:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 12.02. 09:45 - 11:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
Information
Aims, contents and method of the course
Assessment and permitted materials
In order to obtain a grade for the course, the student must participate in the first unit. In case of illness, please provide a written certificate before the class. For those students on the waiting list, please wait until spaces open due to de-registration. Once a slot is provided, participation in the next unit is necessary.There will be two written exams (in person except for justified reasons), each worth 40%. In addition, there will be homework assignments, worth 20%.The dates for the exams are
Midterm: Monday13.11.2023 16:45 - 18:15 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß EG.503
Endterm: Monday 29.01.2024 13:15 - 14:45 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß EG.623 /Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock 01.634Both the final and the midterm may be retaken in February (second week), but only if you took part in the original exam. If the exam is retaken, the grade is automatically replaced by the new exam.Students may work in groups of at most 4 students to complete the homework assignments, but all students should submit an independent copy of their assignment for grading. The names of the members of the group should be visible at the top of the first page.
The use of AI tools to complete homework assignments is explicitly forbidden. If upon grading the assignment, the lecturer believes the use of such a device is likely, the grade would be suspended and the student will be requested to show their work in a one-on-one meeting. If the student cannot show that the work was originally theirs, the student will receive 0% in the assignment.
Assignments are graded as follows. If the student performed a serious attempt in all tasks, 100%. If the student performed a serious attempt in at least half of the tasks, 60%. If the student completed at least one of the tasks 30%. Otherwise, 0%.
Midterm: Monday13.11.2023 16:45 - 18:15 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß EG.503
Endterm: Monday 29.01.2024 13:15 - 14:45 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß EG.623 /Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock 01.634Both the final and the midterm may be retaken in February (second week), but only if you took part in the original exam. If the exam is retaken, the grade is automatically replaced by the new exam.Students may work in groups of at most 4 students to complete the homework assignments, but all students should submit an independent copy of their assignment for grading. The names of the members of the group should be visible at the top of the first page.
The use of AI tools to complete homework assignments is explicitly forbidden. If upon grading the assignment, the lecturer believes the use of such a device is likely, the grade would be suspended and the student will be requested to show their work in a one-on-one meeting. If the student cannot show that the work was originally theirs, the student will receive 0% in the assignment.
Assignments are graded as follows. If the student performed a serious attempt in all tasks, 100%. If the student performed a serious attempt in at least half of the tasks, 60%. If the student completed at least one of the tasks 30%. Otherwise, 0%.
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. Demand Theory.
2. Allocations. Fairness and Efficiency.
3. Competitive Equilibrium and Welfare Theorems in Exchange Economies.
4. Production. Technology and Cost. Misallocation and Trade. Firm Optimization.
5. Imperfect Competition.
6. Labor markets. Heterogeneous workers. Monopsony Power. Policy Evaluation.
7. Market Failures. Externalities. Information Asymmetries.
1. Preferences and choice. Demand Theory.
2. Allocations. Fairness and Efficiency.
3. Competitive Equilibrium and Welfare Theorems in Exchange Economies.
4. Production. Technology and Cost. Misallocation and Trade. Firm Optimization.
5. Imperfect Competition.
6. Labor markets. Heterogeneous workers. Monopsony Power. Policy Evaluation.
7. Market Failures. Externalities. Information Asymmetries.
Reading list
The best book to follow the course is Kandori's "Mighty Microeconomics".
In addition, the following books may help with specific issues.
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.
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).
In addition, the following books may help with specific issues.
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.
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).
Association in the course directory
Last modified: Th 18.01.2024 13:25
The course will consist of theory sections (lecture form) and practical sessions (recitation). The course will take place in person (recordings of the lectures will be available for a week only).
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. The first part will consist of some basic math refresher (everyone is invited to join) and the second part will consist of "empirical projects" that would enable you to relate the concepts discussed here with real-world phenomena.