Syllabus

Title
2045 Applied Microeconomics
Instructors
ao.Univ.Prof. Dr. Christian Bellak
Contact details
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
09/04/19 to 10/03/19
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Dates
Day Date Time Room
Monday 10/07/19 08:00 AM - 10:00 AM TC.4.27
Monday 10/14/19 08:00 AM - 10:00 AM TC.4.27
Monday 10/21/19 08:00 AM - 10:00 AM TC.4.27
Monday 10/28/19 08:00 AM - 10:00 AM TC.4.27
Monday 11/04/19 08:00 AM - 10:00 AM TC.4.27
Monday 11/11/19 08:00 AM - 10:00 AM TC.4.27
Monday 11/18/19 08:00 AM - 10:00 AM TC.4.27
Monday 12/02/19 08:00 AM - 10:00 AM TC.4.27
Monday 12/09/19 08:00 AM - 10:00 AM TC.4.27
Monday 12/16/19 08:00 AM - 10:00 AM TC.4.27
Monday 01/13/20 08:00 AM - 10:00 AM TC.4.27
Monday 01/20/20 08:00 AM - 10:00 AM TC.4.27
Monday 03/02/20 10:00 AM - 11:00 AM TC.4.18
Contents

This course introduces some key approaches that economists use to analyse and understand the behavior of consumers, firms and governments, both from a theoretical and an applied perspective.

This course is subdivided into two thematic blocks.

The first block focuses on consumer theory and production theory, chapters 1-8 in Pindyck and Rubinfeld, 8th ed.

The second bloc focuses on the concept of market equilibrium under the assumption of perfect competition, chapter 9 in Pindyck and Rubinfeld, 8th ed. and on issues of competition, chapters 10-13 in Pindyck and Rubinfeld, 8th ed.

Learning outcomes

Having graduated this course, the students should be able to:

  • Express their opinions with regard to selected topics addressed by microeconomic theory and apply this theory to practical examples.
This lecture also requires from the students to develop the following abilities:
  • To apply theoretical concepts to practical examples;
  • To use analytical methods for the solution of diverse problem sets (e.g. finding the optimal decision for a given stakeholder using mathematical derivations);
  • To present and explain complex theoretical concepts.
Attendance requirements

Class attendance is compulsory. A maximum of 2 times absenteeism is tolerated without prior notice. Further absenteeism will lead to deregistration.

Teaching/learning method(s)

The course aims to achieve the aforementioned outcomes through:

  • Interactive presentations (both from the lecturer and the students themselves);
  • Discussions of the topics covered;
  • Solutions of problem sets, partly with numerical examples.
Assessment

(a) Assignments: 10% (b) Repeat exam 30% (c) Mid-term exam: 30% (d) Final exam: 30%

(Overall performance must be >=50% in order to pass.)

Grading scheme:

100-87.5

Sehr gut (1)

A+, A, A- (1)

100-87.5%

75-87.4

Gut (2)

B+, B, B- (2)

87.40-75.0%

62.5-74.4

Befriedigend (3)

C+, C, C- (3)

74.40-62.5%

50-62.4

Genügend (4)

D+, D (4)

62.4-50%

<15

Nicht genügend (5)

fail (5)

<50%

       
       
       
       
       
Prerequisites for participation and waiting lists

If you have a valid registration for the lecture, but will not participate, please deregister during the registration period of LPIS. Your place will be available for other students.

During the registration period, free places are filled according to the “first-come, first-served” principle. After the end of the registration period, the number of places is increased and students on the waiting list will be registered for the lecture based on their progress in their studies.

Attendance in the first session is necessary, any absence will lead to deregistration! Any remaining places in the classes will be allocated to students attending the first session according to the waiting list. No places will be allocated by email or by phone.

Registration for the lecture cannot be guaranteed. Any student dropping out of the course who has already submitted a gradable task will receive a negative grade.
Readings
1 Author: Pindyck, Robert S.; Rubinfeld, Daniel L.
Title:

Microeconomics


Publisher: Pearson
Edition: 9th ed.
Year: 2018
Content relevant for class examination: Yes
Content relevant for diploma examination: No
Recommendation: Essential reading for all students
Type: Book
Availability of lecturer(s)

bellak@wu.ac.at

phone: 00431313364505

Unit details
Unit Date Contents
1 7.10.2019

Introduction

2 14.10.2019

Summary Chapters 2-5 (except 4.6, 5.4, 5.5; including Appendix Chapter 4)

3 21.10.2019

Summary Chapters 6-8 (except 7.6, 7.7; including Appendix Ch. 7)

4 28.10.2019

Repeat-exam

5 4.11.2019

Chapter 9

6 11.11.2019

Mid-term exam (Chapter 9)

7 18.11.2019

Chapter 10

8 2.12.2019

Chapter 11, including Appendix

9 9.12.2019

Chapter 12

10 16.12.2019

Chapter 13

11 13.1.2020

Questions

12 20.1.2020

Final exam (Chapters 10-13)

Last edited: 2020-01-15



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