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Microeconomics

General data

Course ID:	1000-135MIE
Erasmus code / ISCED:	11.913 Kod klasyfikacyjny przedmiotu składa się z trzech do pięciu cyfr, przy czym trzy pierwsze oznaczają klasyfikację dziedziny wg. Listy kodów dziedzin obowiązującej w programie Socrates/Erasmus, czwarta (dotąd na ogół 0) – ewentualne uszczegółowienie informacji o dyscyplinie, piąta – stopień zaawansowania przedmiotu ustalony na podstawie roku studiów, dla którego przedmiot jest przeznaczony. / (unknown)
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 Basic information on ECTS credits allocation principles: the annual hourly workload of the student’s work required to achieve the expected learning outcomes for a given stage is 1500-1800h, corresponding to 60 ECTS; the student’s weekly hourly workload is 45 h; 1 ECTS point corresponds to 25-30 hours of student work needed to achieve the assumed learning outcomes; weekly student workload necessary to achieve the assumed learning outcomes allows to obtain 1.5 ECTS; work required to pass the course, which has been assigned 3 ECTS, constitutes 10% of the semester student load. view allocation of credits
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	Selected timetable range: weekly course term Navigate to timetable MO TU WYK CW W TH FR
Type of class:	Classes, 30 hours more information Lecture, 30 hours more information
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	Selected timetable range: weekly course term Navigate to timetable
Type of class:	Classes, 30 hours more information Lecture, 30 hours more information
Coordinators:	Mirosław Sobolewski
Group instructors:	Mirosław Sobolewski
Students list:	(inaccessible to you)
Examination:	Examination

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