Microeconomics III (General Equilibrum) 2400-EMen2MI3

1. Comparison of partial equilibrium in the different market structures (final goods), performance
Economic and analyzing consumer and producer surplus, aggregation of demand and supply curves.
2. Government interference in the market - taxes, tariffs, subsidies, price caps, minimum prices, limiting
quantitative.
3. Partial equilibrium (market of factor);
4. Labor market, economic rent;
5. Edgeworth diagram, the model of pure exchange, general equilibrium;
6. Warlasa right, welfare economics, under Pareto efficiency;
7. Robinson Crusoe economy (the market of final products and factors of production).;
8. Externalities, market disturbance caused by externalities; Coas'a claim.;
9. Internalisation of externalities, tax Pigou;;
10. Public goods and club; market disturbances due to public goods;
11. Mechanisms of social choice (tax Groves-Clarke);
12. Asymmetric information (negative selection, moral hazard, quality and asymmetric information);
13. Asymmetric information (giving signals) model of the educational market;
14. Asymmetric information (accuracy incentive), Principal-agent model;;
15. Summary.

Type of course

obligatory courses

Prerequisites (description)

Microeconomics A and B Basic introduction to the subject of the economy realized in the second year of study. Course participants are expected to know basic of mathematical analysis (functions of several variables, calculus derivatives, optimization), microeconomic theory of consumer and producer.

Learning outcomes

After finishing the course the student:
KNOWLEDGE  
- knows and uses the concept of general equilibrium and market failures: externalities, poorly defined property rights, asymmetric information
- Can identify the basic assumptions of economic models of general equilibrium  
SKILLS  
- Recognizes the real world, the basic problems affecting the economic inefficiencies  
- Explain economic phenomena, which can be described as models of general equilibrium
- Can be found analytically in the solution of general equilibrium models
- is able to demonstrate analytically in terms of Pareto inefficiency
- is seeking additional readings to extend his/her knowledge above the one presented during lectures
ATTITUDES  
- Harnesses the power of collaboration
- Is critical in relation to the economic problems presented

Assessment criteria

Passing Microeconomics course requires the simultaneous fulfillment of conditions:
(1) 0.6 (scoring of the exam) + 0.1 (scoring of written work) + 0.3 (scoring discussions)> = 50%
(2) Condition of passing: the percentage of exam score> = 50%

Additional rules:
- Passing discussions is prequisite to write a final exam. Taking the exam without the grade from discussions invalidates its outcome.
- The exam will be in writing - choose from a pool of 3-4 tasks 5-6 task
- As part of the exam is an essay on topic presented durong lecture - students prepare essays at home in advance and bring it to exam
- Re-sit examintaion will be held in the examination period, in the same form, there are no other exam dates
- The principle of "zero-tolerance for cheating"

Grading system:
The current scale of assessments of lectures and exercises.
Points (%) rating
<0.50) 2
<50.60) 3
<60.70) 3.5
<70.80) 4
<80.90) 4.5
<90.100> 5

Bibliography

Required readings:
H. R. Varian, Mikroekonomia, PWN, Warszawa 1997

Suggested readings:
R. S. Pindyck i D. L. Rubinfeld, Microecoeconomics, Macmillan 1992
A. Chiang: „Podstawy ekonomii matematycznej”, PWE 1994

Recommended sets of tasks:
T. C. Bergstrom & H. R. Varian, Ćwiczenia z mikroekonomii, PWN, Warszawa 1997