Syllabus
Title
0997 Applied Microeconomics
Instructors
Dr. Charles Louis-Sidois
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
09/02/20 to 09/20/20
Registration via LPIS
Registration via LPIS
Notes to the course
Primarily for students of the Economics and Socio-Economics Major.
Subject(s) Bachelor Programs
Dates
| Day | Date | Time | Room |
|---|---|---|---|
| Wednesday | 10/14/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 10/21/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 10/28/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 11/04/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 11/11/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 11/18/20 | 01:00 PM - 03:00 PM | TC.5.13 |
| Wednesday | 12/02/20 | 01:00 PM - 03:00 PM | Online-Einheit |
| Wednesday | 12/09/20 | 01:00 PM - 03:00 PM | Online-Einheit |
| Wednesday | 12/16/20 | 01:00 PM - 03:00 PM | Online-Einheit |
| Wednesday | 12/23/20 | 01:00 PM - 03:00 PM | Online-Einheit |
| Wednesday | 01/13/21 | 01:00 PM - 03:00 PM | Online-Einheit |
| Wednesday | 01/20/21 | 01:00 PM - 03:00 PM | Online-Einheit |
On this page:
- Contact details
- Procedure for the course when limited activity on campus
- Contents
- Learning outcomes
- Attendance requirements
- Teaching/learning method(s)
- Assessment
- Prerequisites for participation and waiting lists
- Recommended previous knowledge and skills
- Availability of lecturer(s)
- Readings
- Unit details
rotation mode
Please create access to Microsoft Teams before the first lesson. Microsoft Teams is used flexibly, either at the lecturer's desk in the lecture room (or - if it is not allowed to enter the lecture rooms - in the home office). The screen of the lecturer's desk is shared between the students in the lecture room and those at home. For the students in the lecture room, the lecturer's PC projects onto the whiteboard; students at home need their own laptop (tablet), with which MS-Teams can share the screen. The sound is transmitted from the lecture room via a microphone to the students in the home office. (It is not intended / necessary to film the lecturer.)
This mode is very flexible and the presence in the lecture room can vary between 0% - 100%.
Because of the situation, presence in the lecture room will be 0%. Lectures and final exam will be online.
It is subdivided into five thematic blocks. The first block is used to revise the basics of supply and demand. With regard to supply, the focus is on production costs and profit maximization. Demand, on the other hand, is related to consumer behaviour and utility maximization. The concept of market equilibrium is clarified under the assumption of perfect competition. The second and third block aims to broaden the students’ understanding of the topic by introducing markets with imperfect competition (monopoly, oligopoly, cartels and pricing with market power, quantity and price competition). The basic game theory concepts are examined in the penultimate block. The course concludes with a discussion of market failure due to asymmetric information, externalities and public goods.
Having graduated this course, the students should be able to:
- Express their opinions with regard to the main topics addressed by microeconomic theory and apply this theory to practical examples;
- Differentiate between different market forms (perfect competition, monopoly, monopolistic competition and oligopoly) and derive the optimal price and output decisions depending on the market structure;
- Analyse strategic behaviour in different market situations and evaluate how firm and social outcomes vary with differing market forms;
- Recognize situations which give rise to market failure and make suggestions with regard to its aversion.
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.
The course aims to achieve the aforementioned outcomes through:
- Interactive presentations from the lecturer, including discussion of the concepts by the students;
- Discussions of the topics covered;
- Solutions of problem sets with numerical examples.
Assessment consists in weekly problem sets (totalling 55% of the grade) and an online final exam taking place during the last session (45% of the grade).
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, absence without valid excuse 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.
- STEOP
- Necessary prior knowledge can be found in the microeconomics part of the script Stiassny et al., or in chapters 1-8 of the book Microeconomics from Pindyck and Rubinfeld
Last edited: 2020-09-18
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