Syllabus

Titel
5926 Foundations in Microeconomics
LV-Leiter/innen
Univ.Prof. Dr.Dr. Ulrich Berger
Kontakt
e-mail: ulrich.berger@wu.ac.at; phone: +43 1 31336 4562
  • LV-Typ
    PI
  • Semesterstunden
    2
  • Unterrichtssprache
    Englisch
Anmeldung
26.02.2019 bis 28.02.2019
Anmeldung über LPIS
Hinweise zur LV
Planpunkt(e) Bachelor
Termine
Wochentag Datum Uhrzeit Raum
Mittwoch 06.03.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 13.03.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 20.03.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 27.03.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 03.04.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 10.04.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 08.05.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 15.05.2019 12:30 - 15:00 TC.0.01 ERSTE
Mittwoch 22.05.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 05.06.2019 12:30 - 14:30 TC.0.01 ERSTE
Mittwoch 12.06.2019 12:30 - 14:30 TC.0.01 ERSTE
Freitag 04.10.2019 09:00 - 11:00 D4.0.144

Inhalte der LV

Foundations in Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. It provides a solid foundation for economic analysis and thinking. We start with an introduction to individual decision-making under scarcity, then turn to social interactions and game theory, continuing with an analysis of how institutions and power determine allocations. Next we take a closer look on how firms operate and study the implications of profit maximization. We continue with key concepts of competitive markets and perfect competition, and take a closer look at the labour market. Finally, we look at market phenomena like market equilibration, asset price bubbles, non-clearing markets, external effects and market failures.

Lernergebnisse (Learning Outcomes)

After attending this course, students will be able to:

  • use supply and demand diagrams to analyze the impact of overall changes in supply and demand on price and quantity.
  • solve a consumer's utility maximization problem.
  • understand the consumer's labor supply decision.
  • analyze the behavior of firms in a perfectly competitive market in the short-run and the long-run.
  • calculate producer and consumer surplus.
  • analyze the interplay of supply and demand in markets.
  • understand the limits of markets and the reasons for market failure.

Regelung zur Anwesenheit

Students need to attend at least 80% of the classes in order to pass the course successfully. Please inform the lecturer about your absence prior to the class (ulrich.berger@wu.ac.at).

Lehr-/Lerndesign

  • Lectures with material developed on the whiteboard and supported by slides
  • Discussion of examples
Slides and exercises will be uploaded on learn@wu. Students are requested to prepare for each class with the provided material.

Leistung(en) für eine Beurteilung

There will be a written mid-term exam and a written final exam, each with a weight of 45%. The remaining 10% can be gained by active participation, i.e. by answering questions raised during the course or contributing to the discussion thoughtfully. A retake of one of the written exams will also be offered for those not reaching 50% in total.

Teilnahmevoraussetzung(en) und Vergabe von Wartelistenplätzen

None

Literatur

1 Autor/in: The Core Team
Titel:

The Economy


Verlag: Oxford University Press
Jahr: 2017
Prüfungsstoff: Ja
Empfehlung: Unbedingt notwendige Studienliteratur für alle Studierenden
Art: Buch

Empfohlene inhaltliche Vorkenntnisse

Students should have basic knowledge in calculus.

Erreichbarkeit des/der Vortragenden

There are no specific office hours. Please contact the lecturer personally after the class or by e-mail (preferred) or phone.

ulrich.berger@wu.ac.at

01/31336-4562

Sonstiges

For this course we adopt the ressources provided by the CORE Project, an innovative project for teaching and learning economics. At the heart of it is a 1127-pages book titled THE ECONOMY (see Literature for details). The book covers more or less all of economics on an introductory level in 22 chapters, but we will only deal with about half of it, the microeconomics part.

The nice thing is, that there is no need for you to buy the book, since all the contents of the book are online, accompanied by additional material for registered users. Just have a look at https://core-econ.org/the-economy/

There is even an app which allows you to study and learn on your mobile, if you're so inclined!

Zuletzt bearbeitet: 20.03.2019



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