Syllabus

Title
6012 Microeconomic Models and Methods (Applied Track)
Instructors
Assoz.Prof PD Melis Kartal, Ph.D.
Contact details
melis.kartal@wu.ac.at
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
02/13/23 to 02/19/23
Registration via LPIS
Notes to the course
Subject(s) Master Programs
Microeconomic Models and Methods
Dates
Day Date Time Room
Monday 03/13/23 03:00 PM - 05:00 PM D4.0.144
Monday 03/20/23 03:00 PM - 05:00 PM D4.0.144
Monday 03/27/23 03:00 PM - 05:00 PM D4.0.144
Monday 04/17/23 03:00 PM - 05:00 PM D4.0.144
Monday 04/24/23 03:00 PM - 05:00 PM D4.0.144
Monday 05/08/23 03:00 PM - 05:00 PM D4.0.144
Monday 05/15/23 03:00 PM - 05:00 PM D4.0.144
Monday 05/22/23 03:00 PM - 05:00 PM D4.0.144
Monday 06/05/23 03:00 PM - 05:00 PM D4.0.144
Monday 06/12/23 03:00 PM - 05:00 PM D4.0.144
Monday 06/19/23 03:00 PM - 05:00 PM D4.0.144
Monday 06/26/23 03:00 PM - 05:00 PM D4.0.144
Thursday 06/29/23 05:00 PM - 07:00 PM TC.0.01

On this page:

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Contents

Microeconomic Models and Methods is an advanced course that teaches selected fundamental microeconomic models and methods in more detail. The course starts with an introduction to relations and preference relations, leading to a model of decision-making under risk. It then turns to welfare economics and studies social welfare functions, continuing with utilitarianism and Pareto efficiency. We consider the problem of mechanism design, using a public goods game and auctions as an example. After introducing the Vickrey-Clarke-Groves mechanism, we turn to second-best mechanisms and finally to market mechanisms.

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Learning outcomes

After attending this course, students will be able to:

  • understand the reasons for the widespread assumption of expected utility maximization.
  • explain the theoretical basics of welfare comparisons and their limits.
  • understand the source of inefficiencies arising under incomplete information.
  • construct efficient mechanisms to handle social choice problems.
  • explain how large markets may eliminate inefficiencies.
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Attendance requirements

The attendance requirement is met, if a student is present at least 80%. Therefore, students are allowed to be absent for up to two classes.

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Teaching/learning method(s)
  • 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.

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Assessment

There will be weekly homework exercises (30%) and a written final exam (60%). 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 the final exam will also be offered for those not reaching 50% in total.

grading scheme: 0.0-49.9: 5 / 50.0-62.4: 4 / 62.5-74.9: 3 / 75.0-87.4: 2 / 87.5-100.0: 1

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Readings

Please log in with your WU account to use all functionalities of read!t. For off-campus access to our licensed electronic resources, remember to activate your VPN connection connection. In case you encounter any technical problems or have questions regarding read!t, please feel free to contact the library at readinglists@wu.ac.at.

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Availability of lecturer(s)

melis.kartal@wu.ac.at

Last edited: 2023-01-20



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