Microeconomics
General data
Course ID: | 1000-135MIE |
Erasmus code / ISCED: |
11.913
|
Course title: | Microeconomics |
Name in Polish: | Mikroekonomia |
Organizational unit: | Faculty of Mathematics, Informatics, and Mechanics |
Course groups: |
Elective courses for 1st degree studies in mathematics |
ECTS credit allocation (and other scores): |
6.00
|
Language: | Polish |
Type of course: | elective courses |
Short description: |
Microeconomics is the part of economics dealing with rules governing individuals' choices and interactions between individuals in economy. The course will combine introduction to microeconomics and advanced microeconomic theory. It encompasses the general choice theory, producers and consumers optimization problems, choice under uncertainty, and various concepts of market equilibria. |
Full description: |
1. Introduction to microeconomics 2. Mathematical tools used in microeconomic theory: - constrained optimization - correspondences - fixed point 3. General choice theory - preferences and utility - choice structures - WARP and equivalence 4. Consumer's choice - assumptions - basic functions and correspondences - their properties - analysis of demand, Slutsky equation - comparative statics 5. Producer's choice - assumptions - basic functions and correspondences - their properties - short and long run for a producer - comparative statics 6. Partial equilibrium - market supply and demand - equilibrium - very short, short, medium and long run for the market - taxation, restrictions and subsidies 7. Monopoly - the optimization of a monopolist - equivalent expressions for the optimum - taxation 8. General equilibrium - pure exchange economy - welfare theorems and Pareto optimality - Edgeworth box - equilibrium - Arrow-Debreu model - existence of equilibrium 9. Choice under uncertainty - preferences over lotteries and von Neumann-Morgenstern theorem - comparing preferences - attitude to risk - stochastic dominance |
Bibliography: |
G.A. Jehle, P.J.Reny, Advanced Microeconomic Theory. Addison Wesley, 2001. A. Mass-Colell, M. Whinston, J. Creen, Microeconomic Theory. Oxford University Press, Oxford 1995. H.R. Varian, Microeconomic Analysis. W. W. Norton and Company, 1992. |
Learning outcomes: |
Knowledge and skills: Students know what is the subject of microeconomics. They can use tools of optimization, multivalued corespondeces and fixed points. Students know general theory of choice Students know consumer choice problem and can calculate functions and correspondences and know their basic properties. Students know producer choice problem and can calculate functions and correspondences and know their basic properties. Students know basic market structures: perfect competition and monopoly, they can calculate partial equilibria and solve monopolist optimization problem, including discrimination and results of interventions. Students know general equilibrium models Students have basic knowledge about decision making under uncertainty. |
Assessment methods and assessment criteria: |
final exam |
Classes in period "Winter semester 2023/24" (past)
Time span: | 2023-10-01 - 2024-01-28 |
Navigate to timetable
MO TU WYK
CW
W TH FR |
Type of class: |
Classes, 30 hours
Lecture, 30 hours
|
|
Coordinators: | Mirosław Sobolewski | |
Group instructors: | Mirosław Sobolewski | |
Students list: | (inaccessible to you) | |
Examination: | Examination |
Classes in period "Winter semester 2024/25" (future)
Time span: | 2024-10-01 - 2025-01-26 |
Navigate to timetable
MO TU W TH FR |
Type of class: |
Classes, 30 hours
Lecture, 30 hours
|
|
Coordinators: | Mirosław Sobolewski | |
Group instructors: | Mirosław Sobolewski | |
Students list: | (inaccessible to you) | |
Examination: | Examination |
Copyright by University of Warsaw.