Microeconomics II 2400-EMen2MI2
1. Technology (production function, isoquant, marginal product, the technical rate of substitution, elasticity of substitution of production factors)
2. Economics of scale. Cost functions in the short and long run. Alternative cost
3. Optimal choice of the firm. Duality in the theory of the firm (minimizing total costs and maximize profits)
4. Producer surplus. Equilibrium of perfectly competitive firm in the short term
5. Equilibrium of perfectly competitive firms in a long run
6. Monopoly equilibrium. Natural monopoly
7. Differentiation of monopoly pricing (first degree, second degree and third degree)
8. Equilibrium in monopolistic competition in the short and long term
9. Game theory - Part I (play in the strategies of 'clean' and the strategies of "mixed" Nash Equilibrium)
10. Oligopoly: game simultaneously (Cournot model and a Bertrand model)
11. Oligopoly: a sequential game (Stackelberg model and the model of price leadership)
12. Oligopoly: cooperative game (cartel)
13. Game theory - Part II (two-stage oligopolistic game)
14. Markets for differentiated products: models of location
15. Summary of material
Type of course
Prerequisites (description)
Learning outcomes
After finishing the course the student:
KNOWLEDGE
- knows and uses issues and tools in the producer theory
- can use economic lagnuage
- can identify the basic assumptions of economic models
SKILLS
- recognizes the fundamental dilemmas of the real world of producer choice
- can translate the economic issue to a formal mathematical model - show economic confligt as a game
- can use in economic analysis with producer's models
ATTITUDES
- harnesses the power of collaboration
- is critical in relation to the presented economic problems
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
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: