Microeconomics I (2235.YR.015778.1)
General information
Type: |
OBL |
Curs: |
1 |
Period: |
S semester |
ECTS Credits: |
3 ECTS |
Teaching Staff:
Prerequisites
This course goes beyond the standard (undergraduate) introductory Economics class. Therefore previous exposure to Microeconomics Principles, Statistics, basic Algebra and Calculus is helpful.
Workload distribution
- Lecturing
- Group discussions
- Assignments
Course Learning Objectives
The aim of the course is to equip students with some basic economic theory and methods that are relevant to the study of business decision-making. Consequently, the course will provide the theoretical grounding for understanding the behavior of consumers and firms, and their interactions in the market. The course will also introduce students to basic modelling and quantitative techniques that are useful to researchers in management sciences.
CONTENT
1. The Fundamentals of Economics a. Decision Making using Marginal analysis
b. Competitive Equilibrium. First Welfare Theorem
b. Methods and Tools in Economic Analysis
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2. Consumer Theory and Demand |
3. Production and Cost Theory |
4. Market Structures and Market Power |
5. Introduction to Game Theory. Strategic Interactions Between Firms |
6. The Role of Information. Moral Hazard and Adverse Selection |
7. Externalities and Public Goods |
Relation between Activities and Contents
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| Final exam |
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| Assignments |
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| Attendance and participation |
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Methodology
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ASSESSMENT
ASSESSMENT BREAKDOWN
| Description |
% |
| Final exam |
50 |
| Assignments |
40 |
| Attendance and participation |
10 |
Assessment criteria
Attendance and participation (10%),assignments (40%), closed book exam (50%).
There is one retake exam allowed that the student can use if she misses the final or wants to improve her grade in the final exam. The weight of the retake in the total grade is the one stated in the syllabus (50%).
Bibliography
There is no required textbook for this class. However, the course will draw on the following sources (occasionally supplemented by research papers):
Thomas, Christopher R. & S. Charles Maurice, Managerial Economics - Foundations of Business Analysis and Strategy, 10th edition, McGraw-Hill (2011)
