Microeconomics I

2018-2019
Dit vak wordt in het Engels aangeboden. Omschrijvingen kunnen daardoor mogelijk alleen in het Engels worden weergegeven.

Doel vak

You will study the basic concepts of microeconomics concerning consumer
and producer behavior is market equilibrium. You will develop skills to
apply the relevant microeconomic theories to current economic concerns
(Academic Skills). Therefore, the following goals are important:
- you obtain basic knowledge on how individuals consumers and producers
should act to maximize utility and profit (Course Knowledge);
- you obtain insight in how equilibrium quantities and prices are
determined in different market structures such as competition, monopoly
and oligopoly (Course Knowledge and Quantitative Skills);
- you learn how to apply a welfare analysis on the benefits and
restrictions of the different market structures and the impacts of
external influences (Course Knowledge and Quantitative Skills);
- you obtain insight in the policy instruments of governments to
interfere in case of market failure (Link to Practice);
- you learn about auction mechanisms and the impact of uncertainty of
consumer behavior (Link to Practice).

Inhoud vak

This course considers rational consumers and producers, that maximize
under some conditions their utility and profits, respectively. This
paradigm is used to derive supply and demand curves, which are used to
analyse market equilibrium. Within different market structures
(competition, monopoly, oligopoly) the price setting in equilibrium is
studied. Also settings are considered where markets fails. In addition,
attention is devoted to uncertainty, auctions, market power and the role
of the government.

Onderwijsvorm

Main classes.
Workgroups.

Toetsvorm

Exam - individual grading.
Midterm exams - individual grading.

Vereiste voorkennis

None.

Literatuur

Goolsbee, A., S. Levitt and C. Syverson, Microeconomics, Worth
Publishers.

Aanbevolen voorkennis

Quantitative Research Methods I

Algemene informatie

Vakcode E_EBE1_MICEC
Studiepunten 6 EC
Periode P2
Vakniveau 100
Onderwijstaal Engels
Faculteit School of Business and Economics
Vakcoördinator prof. dr. B. van der Klaauw
Examinator prof. dr. B. van der Klaauw
Docenten dr. S. Dobbelaere
prof. dr. B. van der Klaauw

Praktische informatie

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