Syllabus

Title
0329 Microeconomics
Instructors
Univ.Prof. Alexander Mürmann, Ph.D.
Contact details
alexander.muermann@wu.ac.at
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
09/01/23 to 09/22/23
Registration via LPIS
Notes to the course
Subject(s) Master Programs
Microeconomics
Dates
Day Date Time Room
Tuesday 10/03/23 12:30 PM - 02:30 PM TC.0.01
Wednesday 10/04/23 05:00 PM - 07:00 PM TC.2.02
Tuesday 10/10/23 02:00 PM - 05:00 PM TC.1.02
Wednesday 10/11/23 09:00 AM - 12:00 PM TC.1.02
Tuesday 10/17/23 02:00 PM - 04:00 PM TC.1.01 OeNB
Wednesday 10/18/23 12:30 PM - 02:30 PM TC.0.01
Tuesday 10/24/23 02:00 PM - 05:00 PM TC.2.02
Wednesday 10/25/23 02:00 PM - 05:00 PM TC.1.02
Tuesday 11/07/23 02:00 PM - 05:00 PM TC.2.02
Wednesday 11/08/23 09:00 AM - 12:00 PM TC.1.02
Wednesday 11/15/23 09:00 AM - 11:00 AM TC.0.02

On this page:

to top
Contents
  • Consumer Theory
    • Consumption set, preference relations, utility representation, expenditure minimization
  • Equilibrium Analysis
    • Pareto efficiency, exchange equilibrium, existence and properties of equilibria
  • Choice under Uncertainty and Markets for Uncertainty
    • Expected utility theory, individual choices under uncertainty, markets for uncertainty

       

to top
Learning outcomes

After completing this course the student will have the ability to:

  • describe the behaviour of individual economic agents (consumers and firms) and the aggregation of their actions in an institutional framework;
  • assess economic activity, market outcomes and their efficiency in an equilibrium framework.

After completing this course the student will also have the ability to:

  • analyze and judge economic arguments effectively;
  • structure information into a coherent economic argument;
  • recognize the complexity of economic systems.

Moreover, after completing this course the student will have the ability to:

  • analyze microeconomic models;
  • formulate hypotheses on the basis of observations;
  • use microeconomic theory to explain features of economic activity and outcomes.
to top
Attendance requirements

Students have to attend at least 80% of lectures - exams excluded.

to top
Teaching/learning method(s)
This class is mainly taught as lectures combined with examples that help students to consolidate their knowledge and understanding.Each student is expected to have read the relevant lecture notes and have worked on the examples before the corresponding lecture. This leaves sufficient room for discussion which is essential for processing the content of this course. Each student is also expected to be present during the class; this includes being on time when the lecture starts.
to top
Assessment
  • 20% clicker questions during class
  • 40% written midterm exam
  • 40% written final exam

Further information about the assessment will be provided by the lecturer including bonus % for active participation in class and the possibility of a retake exam.

to top
Prerequisites for participation and waiting lists

Students in the MAQFIN-14 curriculum who have not obtained a positive grade for Microeconomics, can re-register for this respective course and attend it once again.

to top
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.

to top
Recommended previous knowledge and skills

Successful completion of

  • Mathematics I and Mathematics II
  • Probability
  • Optimization

Students should have basic knowledge in

  • undergraduate microeconomics, i.e. preferences, demand, supply, equilibrium, monopoly
to top
Availability of lecturer(s)
alexander.muermann@wu.ac.at
to top
Other
Course Readings Students will be provided with a set of slides that cover all the material of the course. The slides are available as pdf-file and are only for the students’ own use. Slides can be downloaded from the course website. Case StudiesCase studies, if used, can be downloaded from the course website.
Last edited: 2023-09-29



Back