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Microeconomics

General data

Course ID: 1000-135MIE Erasmus code / ISCED: 11.913 / (unknown)
Course title: Microeconomics Name in Polish: Mikroekonomia
Department: Faculty of Mathematics, Informatics, and Mechanics
Course groups: (in Polish) Przedmioty fakultatywne na matematyce
Elective courses for 1st degree studies in mathematics
ECTS credit allocation (and other scores): 6.00
view allocation of credits
Language: Polish
Type of course:

elective courses

Short description:

Microeconomics is the part of economics dealing with rules governing individuals' choices and interactions between individuals in economy. The course will combine introduction to microeconomics and advanced microeconomic theory. It encompasses the general choice theory, producers and consumers optimization problems, choice under uncertainty, and various concepts of market equilibria.

Full description:

1. Introduction to microeconomics

2. Mathematical tools used in microeconomic theory:

- constrained optimization

- correspondences

- fixed point

3. General choice theory

- preferences and utility

- choice structures

- WARP and equivalence

4. Consumer's choice

- assumptions

- basic functions and correspondences

- their properties

- analysis of demand, Slutsky equation

- comparative statics

5. Producer's choice

- assumptions

- basic functions and correspondences

- their properties

- short and long run for a producer

- comparative statics

6. Partial equilibrium

- market supply and demand

- equilibrium

- very short, short, medium and long run for the market

- taxation, restrictions and subsidies

7. Monopoly

- the optimization of a monopolist

- equivalent expressions for the optimum

- taxation

8. General equilibrium

- pure exchange economy

- welfare theorems and Pareto optimality

- Edgeworth box

- equilibrium

- Arrow-Debreu model

- existence of equilibrium

9. Choice under uncertainty

- preferences over lotteries and von Neumann-Morgenstern theorem

- comparing preferences

- attitude to risk

- stochastic dominance

Bibliography:

G.A. Jehle, P.J.Reny, Advanced Microeconomic Theory. Addison Wesley, 2001.

A. Mass-Colell, M. Whinston, J. Creen, Microeconomic Theory. Oxford University Press, Oxford 1995.

H.R. Varian, Microeconomic Analysis. W. W. Norton and Company, 1992.

Learning outcomes:

Knowledge and skills:

Students know what is the subject of microeconomics. They can use tools of optimization, multivalued corespondeces and fixed points.

Students know general theory of choice

Students know consumer choice problem and can calculate functions and correspondences and know their basic properties.

Students know producer choice problem and can calculate functions and correspondences and know their basic properties.

Students know basic market structures: perfect competition and monopoly, they can calculate partial equilibria and solve monopolist optimization problem, including discrimination and results of interventions.

Students know general equilibrium models

Students have basic knowledge about decision making under uncertainty.

Assessment methods and assessment criteria:

final exam

Classes in period "Winter semester 2018/19" (past)

Time span: 2018-10-01 - 2019-01-25
Choosen plan division:


magnify
see course schedule
Type of class: Class, 30 hours more information
Lecture, 30 hours more information
Coordinators: Agnieszka Wiszniewska-Matyszkiel
Group instructors: Agnieszka Wiszniewska-Matyszkiel
Students list: (inaccessible to you)
Examination: Examination

Classes in period "Winter semester 2019/20" (future)

Time span: 2019-10-01 - 2020-01-27
Choosen plan division:


magnify
see course schedule
Type of class: Class, 30 hours more information
Lecture, 30 hours more information
Coordinators: Mirosław Sobolewski
Group instructors: Mirosław Sobolewski
Students list: (inaccessible to you)
Examination: Examination
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