Microeconomics I
Content
This course provides an introduction into microeconomics. Highlighting the simplicity and profoundness of economic ideas in explaining and improving the world, our objective through this course is to foster a love for economics and explain its significance in daily lives. Towards the end of the semester, we hope that the students will be able to master the key principles of economics. Students will learn about the well-known economic concepts such as opportunity cost, supply and demand, game theory, risks, and factors of production among many others. To offer a slightly extensive version of introductory microeconomics, we will also incorporate topics that span public policy (externalities, public goods, taxes) and behavioural economics (loss aversion, choices and preferences).
The course will center around the main themes of: optimization, equilibrium and empiricism. Employing a simple language, visual representations, mathematics, exercise tutorials and empirical evidences, we approach the task of communicating the course material to our students in efficiently, in a manner that is also memorable and fun. Students will gather the core theoretical insights of microeconomics as well as modern empirical insights bridging the journey from text books to reality.
The lecture will cover the following topics:
Ch 1: Principles & Practices of Economics
Ch 2: Methods & Economics Questions
Ch 3: Optimisation
Ch 4: Demand, Supply & Equilibrium
Ch 5: Consumers & Incentives
Ch 6: Sellers & Incentives
Ch 7: Perfect Competition & Invisible Hand
Ch 8: Trade
Ch 9: Externalities & Public Goods
Ch 10: Govt. - Taxation & Regulation
Ch 11: Markets for Factors of Production
Ch 12: Monopoly
Ch 13: Game Theory & Strategic Play
Ch 14: Oligopoly & Monopolistic competition
Ch 15: Trade-offs Involving Time & Risk
Ch 16: Economics of Information
Lecture:
11.04. - 01.07.2023 (no lecture: 01.5., 29.05., 05.06. & 06.06.)
Room: Konzil 1
Mondays: 13:30 - 15:00 Uhr
Tuesdays 10:00 - 11:30 Uhr
Tutorials:
ab 22.04.- 23.07.2021
| Day and time | Group | Tutor | Room |
|---|---|---|---|
| Montag 8:15-9:45 | 1 | Alexander Bohner | C358 |
| Dienstag 15:15 - 16:45 | 2 | Alexander Bohner | R512 |
| Mittwoch 10:00 - 11:30 | 3 | Annika Bastian | E404 |
| Mittwoch 11:45 - 13:15 | 4 | Annika Bastian | E404 |
| Mittwoch 13:30 - 15:00 | 5 | Georgios Fragidis | G227a |
| Donnerstag 15:15 - 16:45 | 6 | Annika Bastian | G201 |
| Freitag 08:15 - 09:45 | 7 | Maike Schlosser | C358 |
Exam
26.07.2023 08:30 - 10:00 Uhr. Room: TBA
14.10.2023 09:30 - 11:00 Uhr
Exam Inspection: 20.11.2023: 15:15 - 16:45. Room: F234