Consumption, Production, and Welfare B (MA)

Winter 2018/19

Lecturer:

Lectures: Wed 3 October to 30 January at 9.45-11.15 in lecture room 12 (2nd floor)
Thu 4 October to 31 January at 11.30-13.00 in lecture room 5 (ground floor)
Fri 5 October to 25 January at 9.45-11.15 in lecture room 3 (ground floor)

Please note that the following lecture has been re-scheduled:

Registration: Online registration via u:space. Registered students must sign in the attendance list on the first day. Students who decide to drop out the course must deregister by 15 October 2018. For questions regarding registration, please contact .

ECTS points: 12 ECTS credit points (6 hours) in the Economics Master (plan B)

Aims: The course provides master students with the basic tools of microeconomic analysis. Upon successful completion students are able to work with the basic models of market competition, price determination, and welfare analysis. In simple theoretical examples, they are able to compute market equilibria and perform comparative statics. They are able to make a qualitative assessment of how different political interventions or parameter changes affect market welfare. In examples and real-world applications students identify the main features of the market at hand and the presence and nature of market failures. They can assess the consequences for equilibrium outcomes and welfare properties in markets with strong externalities, when some agents have market power, or missing information. Good students are also able to convincingly discuss about these issues in form of a report or essay addressed to the general reader or interested party.

Method: The lecturer will present the topics of the course and some introductory examples in class. Problem sets will be distributed regularly through the course platform. Students are expected to work on the problem sets on their own. Some exercises will also be treated in class with help of small-group discussions and student presentations. Active learning will also be promoted with exercises and old exam questions posted in the course platform, as well as with writing assignments.

Grading: The final grade will be a weighted average of the results in two closed-book, written midterm (30%) and final (40%) exams, as well as a written assignment (30%). For a minimum passing grade students must have completed these three parts by the end of the semester with an average of 50%. The final grade can be improved in an optional make-up exam before the end of the semester.

Exam dates: Midterm on Fri 23 November at 9.45-11.15 in lecture room 3 (ground floor)
Final on Thu 31 January at 11.30-13.00 in lecture room 5 (ground floor)
Make-up on Tue 19 February at 9.45-11.15 in lecture room 17 (2nd floor)

Textbooks:

Materials: Additional literature and class materials will be available in the Moodle site for this course.