180091 UK Foundational Microeconomics (2019W)
- Registration is open from Fr 20.09.2019 08:00 to We 02.10.2019 22:00
- Deregistration possible until Th 31.10.2019 12:00
Classes (iCal) - next class is marked with N
Aims, contents and method of the course
Assessment and permitted materials
There will also be six assignments, out of which the student should hand in (at least) 4 to obtain full grade (20%). Some of the assignments will consists on text commentary while others will consist on exercises to familiarise the student with the concepts discussed in the lectures.
Minimum requirements and assessment criteria
less than 50%, 5.
2. Allocations and Judgements.
3. Competitive Equilibrium and Welfare Theorems.
4. Labor Markets and Production.
4. Markets and Morals.
5. Externalities and Policy.
The course will follow the topics covered in 'Lectures in Microeconomics' by Romans Pancs. 2018 MIT Press. The level of the book is perhaps too advanced. Varian's "Intermediate Microeconomics" provides an excellent introduction into the concepts of the course.
There is an online e-book called 'CORE Economics' that provides a general introduction to Economics from a modern perspective.
In addition, the following readings are required (as part of coursework)Week 4. 'The Use of Knowledge in Society' F. Hayek, AER 1945, and 'On The Economic Theory of Socialism' O. Lange, Restud 1936.Week 6. 'Contract and Fair Exchange' P.S. Atiyah, UoT Law Journal, 1985,Week 8. 'Lessons from the Kibbutz on the equality-incentives trade-off'. R. Abramitzky, JEP, 2011.Week 10. 'What money can't buy: the moral limits of markets' The Tanner Lectures on Human Values, Oxford University, 1998; and 'Repugnance as a constraint to markets' A. Roth, JEP, 2007Week 12. 'The Problem of Social Cost' by R. Coase, JLE, 1972. (pp. 1-28)