Microeconomics III 2400-PP2MI3a
The aim of the course is to familiarize students with selected topics from the field of microeconomics:
explain the concept of partial equilibrium in the final goods market;
describe the topics connected with government intervention (including different forms of taxes, tariffs, subsidies, price limits and quantity restrictions) and their influence on prices, sales, consumer and producer surplus, economic efficiency;
introduce fundamental concepts and tools of welfare economics – the pure exchange model, the concept of general equilibrium, the Edgeworth Box, Walras’ Law, theorems of welfare economics; analyze topics connected with externalities, market failures, internalization of externalities (including the Pigouvian tax);
describe the concepts of public goods and club goods as well as social choice mechanisms;
introduce the fundamental topics concerning asymmetric information (ex ante and ex post), the concept of incentive compatibility, the principal-agent model;
discuss the basic issues in Law and Economics.
Upon completion of the course the student …
understands the concept of partial equilibrium in the final goods market and in the factor market;
knows the most important instruments of government intervention in the market, understands their influence on prices, sales, consumer and producer surplus, as well as budget revenue;
knows and understands Walras’ Law and the theorems of Welfare Economics, as well as the main conclusions stemming from them;
has knowledge concerning the functioning of motivational taxes correcting for market failures;
knows the concepts of adverse selection, signalling and screening, moral hazard, … incentive compatibility constaint;
can interpret economic phenomena with relation to changes in demand and supply functions, prices and quantities of goods which are traded in market transactions;
can solve typical problems for equilibrium prices and quantities, surpluses, efficiency and budget revenue under various assumptions regarding the market structure;
can develop and present economic argumentation in oral and written form;
can select the appropriate economic instruments for achieving certain goals;
can foresee the influence of applying these instruments on social welfare and its redistribution;
can define the difference between and efficient and a fair distribution of resources;
can analyze relationships in the labor market with different market structures and the effect of applying various economic instruments on unemployment rate;
can analyze basic general equilibrium models and formulate conclusions from Walras’ Law and theorems of Welfare Economics;
can identify market failures such as externalities and public goods, as well as efficiency losses resulting from them, and is able to formulate suggestions of ways of constraining them;
can solve basic models with asymmetric information, including principal-agent models;
can apply rudimentary tools of economics analysis of law;
can indicate differences between various social choice methods, as well as their strengths and weaknesses.
The final grade is calculated on the basis of a weighted average of the scores received for the following elements (weights in brackets):
a) active participation in class [20%]
b) written paper [30%]
c) presentation / participation in a debate in class [10%]
d) final test (exam) – 30 questions [40%]
Components b and c may be executed in small teams, if allowed by the lecturer. In order to pass the course it is required to obtain at least 50% of the maximum exam score (d) AND at least 50% of the maximum total score. It is only allowed to retake the exam
Varian Hal R. (1999), Intermediate Microeconomics. A Modern Approach, 5th ed. (or more recent editions)
Borland, Jeff (2008). Microeconomics: case studies and applications. Cengage Learning.
Mansfield, Edwin and James Peoples (2003). Microeconomics Theory and Applications + Microeconomic Problems: Case Studies and Exercises for Review, W.W. Norton.
Laidler, D. i S. Estron (1989), Introduction to Microeconomics, Pearson Higher Education (or more recent editions).
Pindyck, R.S. i D.L. Rubinfeld (2004), Microeconomics, Prentice Hall.
Więcej informacji o poziomie przedmiotu, roku studiów (i/lub semestrze) w którym się odbywa, o rodzaju i liczbie godzin zajęć - szukaj w planach studiów odpowiednich programów. Ten przedmiot jest związany z programami:
- Ekonomia, niestacjonarne (wieczorowe), pierwszego stopnia
- Ekonomia, stacjonarne, pierwszego stopnia
- Międzykierunkowe Studia Ekonomiczno-Matematyczne, stacjonarne, pierwszego stopnia
Dodatkowe informacje (np. o kalendarzu rejestracji, prowadzących zajęcia, lokalizacji i terminach zajęć) mogą być dostępne w serwisie USOSweb: