Dates: 29 July - 16 August, 2013
The aim of this course is to give students the conceptual basis and the necessary tools for understanding modern microeconomics at the intermediate level. This course makes extensive use of calculus.
The course covers five broad areas:
• the theory of the consumer
• the theory of supply (including monopoly)
• general equilibrium and welfare
• game theory
• game theory applications:
o imperfect competition
o moral hazard and contracts
o information problems.
The theory of the consumer discusses the demand side of the economy, while the theory of supply investigates perfect competition and monopoly, as well as the relationship between technology and costs. General equilibrium is covered, including welfare implications, in particular in the presence of externalities. These three areas cover most of orthodox intermediate microeconomics but neglect interesting topics such as market structure, information, contracts and insurance. To address these topics, the course introduces some basic concepts of game theory.
Whilst not all of the presentations will be as mathematical as those provided in the course text, a knowledge of differential calculus is essential for the study of quantitative solutions to economic problems and, indeed, enhances one's understanding of the underlying concepts. Therefore, on the first day of the course, partial differential calculus will be reviewed and students will also be introduced to techniques of constrained maximisation, such as Lagrangian procedures.
Snyder, Christopher and Walter Nicholson. Microeconomic Theory: Basic Principles and Extensions, (10th edition), Thomson, (2008).
Lectures: 36 hours Classes: 12 hours
Assessment: Two written examinations
Contenido del curso: 12 horas de clase semanales por las mañanas y conferencias y seminarios por las tardes en función del curso elegido.
Precio total: 3.980 €