Syllabus

Title
5255 Applied Microeconomics
Instructors
Daniel Bekesi, M.Sc.Ph.D.
Contact details
daniel.bekesi@wu.ac.at
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
02/05/15 to 02/16/15
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Applied Microeconomics
Applied Microeconomics
Dates
Day Date Time Room
Thursday 03/12/15 02:00 PM - 04:30 PM TC.4.03
Thursday 03/19/15 01:00 PM - 03:30 PM TC.4.03
Thursday 03/26/15 02:00 PM - 04:30 PM TC.4.03
Thursday 04/16/15 01:30 PM - 04:00 PM TC.2.02
Thursday 04/23/15 02:00 PM - 04:30 PM TC.4.03
Thursday 04/30/15 02:00 PM - 04:30 PM TC.4.03
Thursday 05/21/15 01:30 PM - 04:00 PM TC.2.01
Thursday 05/28/15 01:30 PM - 04:00 PM TC.2.02
Thursday 06/11/15 02:00 PM - 04:30 PM TC.4.03
Thursday 06/18/15 02:00 PM - 04:30 PM TC.4.03

On this page:

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Contents
The first part of the course repeats the basics of supply and demand, consumer behavior, profit maximization and equilibrium under perfect competition. The second part consists of the analysis of monopolies and selected issues of imperfect competition. The third part focuses on intermediate markets forms (oligopoly, monopolistic competition). The fourth part of the course provides an introduction to the fundamentals of game theory.The fifth part is concerned with reasons for market failures.
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Learning outcomes
After taking the course, students should have a good knowledge of the key microeconomic theories and models and be able to apply these to real world issues and questions of economic policy relevance. They should be able to distinguish and assess the consequences of alternative market structures (perfect competition, monopoly, oligopoly), to understand the basic concepts of game theory and to identify causes (and possible cures) of market failures.
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Teaching/learning method(s)
The course aims to achieve the aforementioned outcomes through:
  • Interactive presentations of the relevant chapters;
  • Discussions of the topics covered;
  • Solving numerical exercises and controlling home assignments at class.

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Assessment

i) Mid-term test: 40% ii) Assignments in groups: 20% iii) Final test: 40% iv) + 5% extra for class participation

Both tests must be positive in order to get a positive grade. 
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Prerequisites for participation and waiting lists

If youhave a valid registration to the lecture, but will not participate, please unregisterduring the registration period of LPIS. Your place will be available for otherstudents.

Duringthe registration period free positions are filled according to the"first-come, first-served“ principle.

Afterthe end of the registration period studients on the waiting list will beregistered to the lecture based on their progress in their studies. Noregistration to the lecture can be guaranteed. Any vacant seats in the classeswill only be allocated through the waiting list - neither via email nor byphone nor in the 1st course session.

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Readings
1 Author: Pindyck, R.S. and Rubinfeld, D.L.
Title: Microeconomics

Publisher: Pearson
Edition: 7. Edition
Year: 2009
Content relevant for class examination: Yes
Recommendation: Strongly recommended (but no absolute necessity for purchase)
Type: Book
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Availability of lecturer(s)

daniel.bekesi@wu.ac.at

Consultation: by appointment
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Other
The course program is preliminary; therefore, changes may occur.
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Unit details
Unit Date Contents
1 Review, The Basics of Supply and Demand, Consumer Behavior (Ch. 2-4)
2 Theory of the Firm, Profit Maximization, Competitive Markets (Ch. 6-8)
3 Market Power: Monopoly (Ch.10)       deadline: assignment 1
4 Pricing with Market Power (Ch.11)      deadline: assignment 2
5 Mid-term Exam (unit 1-4)
6 Monopolistic Competition and Oligopoly II (Ch.12)
7 Game Theory and Competitive Strategy (Ch.13)       deadline: assignment 3
8 Market Failures I: Asymmetric Information (Ch.17) 
9 Market Failures II: Externalities and Public Goods (Ch.18)       deadline: assignment 4
10 Final Exam (unit 5-9)
Last edited: 2015-04-28



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