After completing this course, students will have gained the analytical and methodological skills to understand and address more advanced microeconomic questions and problems. They will understand: 1) how different markets interact with each other in general equilibrium models; 2) the several ways in which the violation of the perfect market assumption (i.e., market failures) affects market outcomes; 3) how uncertainty plays into the model of economic behavior.

Global Mindset:

• The diversity of students’ cultural and academic backgrounds will contribute to an intercultural perspective on the theoretical concepts discussed throughout the course.
• Students will reflect on how microeconomic models and assumptions may apply differently across institutional, social, and international contexts.

Attendance is mandatory, with a maximum of two absences allowed without a valid excuse. Additional absences must be approved by the administration. Students who are absent during an assessment will receive the lowest possible grade for that assessment.

The course will include lectures, discussions, and analytical/quantitative exercises related to course topics.

Assessment consists of:

- Problem set 1 (25% of the grade)

- Problem set 2 (25%)

- Participation (10%)

- Final exam taking place during the last session (40%).

The overall score will be converted into the final grade according to the following scheme:

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Office hours: by appointment. Room D4.1.038.

Building D4, 1st floor. (Note: the entrance to the department is located on the 2nd floor).

Tel: 01/31336 - 6291

E-Mail: charles.louis-sidois@wu.ac.at