[ 971ECOTMI2K17 ] KS Microeconomics II

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Workload Education level Study areas Responsible person Hours per week Coordinating university
4 ECTS M1 - Master's programme 1. year Economics Rudolf Winter-Ebmer 2 hpw Johannes Kepler University Linz
Detailed information
Original study plan Master's programme Economics 2017W
Objectives Students get an overview of the basics of microeconomic theory at the graduate level, in particular of consumer and producer theory and partial and general equilibrium. Students know the main concepts of microeconomic theory enabling them to read economic literature employing these concepts.
Subject Optimal decision of producers under given technology and given input and output prices - impact of price changes on firm behaviour (goods supply, input demand). Optimal consumption decisions by households under given preferences, and under given income and goods prices - impact of price changes on consumption behaviour (goods demand, factor supply). Measuring the impact of price and income changes on households' utility. Aggregation: moving from the level of individual firms and households to the level of an entire economy. Coordination of household and firm decisions: price mechanism and optimality of the market outcome under perfect competition. Violation of optimality through market power. Individual decision making and market efficiency under information asymmetries and uncertainty.
Criteria for evaluation 20 % class room participation, 80 % final exam
Methods The course involves lectures, readings, and applied exercises.
Language English
Study material Mas-Colell, A., Whinston, M.D., Green, J.R. (1995). Microeconomic Theory. Oxford University Press. Jehle G. A. and P. J. Reny (2011). Advanced Microeconomic Theory. Third Edition Pearson Press.
Changing subject? No
Further information none
Corresponding lecture (*)2VTMMKTK2: KS Microeconomics II (4 ECTS)
Earlier variants They also cover the requirements of the curriculum (from - to)
2VTMMKTK2: KS Microeconomics II (2009W-2017S)
On-site course
Maximum number of participants 200
Assignment procedure Assignment according to priority