0044: Microeconomic Theory ( forår 2010 - 5 ECTS )
Rammer for udbud
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Uddannelsessprog:
engelsk
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Niveau:
Optional 4 th Semester BSc course
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Semester/kvarter:
Every spring semester
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Timer per uge:
4 lectures and 2 exercise classes per week for 7
weeks.
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Deltagerbegrænsning:
None
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Undervisningssted:
Århus
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Hovedområde:
Det Samfundsvidenskabelige Fakultet
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Udbud ID:
17460
Formål
The students should be able to
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Analyze economic systems using the welfare theorems, under a variety of assumptions. Be able to perform comparative static analysis in general economic systems.
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Reflect on the main assumptions behind the welfare theorems and sources for potential market inefficiencies.
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Analyze economic problems using the theory of duality
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Identify the properties for a range of specific functions for production, utility etc
Indhold
The focus of this course will be on general equilibrium, welfare, externalities and public goods. The course will also cover aspects of consumer behaviour not covered in previous courses. The following is an outline of the topics covered:
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General equilibrium without production
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General equilibrium with production
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Welfare analysis
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Externalities
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Public Goods
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Duality
General equilibrium analysis deals with how demand and supply conditions interact in several markets to determine the prices on several goods. This is different from partial equilibrium which deals with only the price of one good.We study techniques that can be used to formalize ideas related to the distribution of welfare. We will focus on welfare functions, which provide ways of aggregating individual welfare.An externality arises when the choices of some agents affect the production or utility of other agents. We will study the economic consequences of externalities.A public good is a good that can be consumed simultaneously by everyone and from which no one can be excluded. Among other things, we will study in what amounts public goods should be provided. We will finally explore duality relations in microeconomic theory. COURSE SUBJECT AREAS: See above
Faglige forudsætninger
REQUIRED COURSES:
(progression):The compulsory courses in the first 3 semesters of the BSC Economics and Management program, especially microeconomics, mathematics and statistics, and the compulsory 4 sem. course in Growth and International Trade
Underviser
Norovsambuu Tumennasan
Undervisnings- og arbejdsform
4 lectures and 2 exercise classes per week for 7 weeks.
English
Litteratur
Jeffrey Perloff: Microeconomics, Theory and Applications with Calculus. Chapters 10 and 17, 62 pages
Hal Varian: Microeconomic Analysis, 3rd edition, W. W. Norton and Company. Chapters 6-8 (pp. 81-143), 17-18 (pp. 314-357), 22-24 (pp. 404-430), 134 pages
A total of 196 pages.
Studieordning og bedømmelse
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Skriftlig, bedømt efter 7-skala med intern censur
Written examination of 4 hours duration jointly with
International economics and Growth (International økonomi og vækst).
EXAMINATION AIDS ALLOWED:
None
