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    Syllabus Microeconomics 2

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    Hùng Phan
    This document provides information about the Microeconomics Level 2 course offered by Assoc. Ph.D. Ho Dinh Bao at the Economics Faculty of NEU. The course is intended to develop students' intermediate-level microeconomic theory skills and their ability to analyze issues like consumer behavior, production, and market failures. It will cover topics such as consumption theory, production theory, perfect and imperfect competition, game theory, and general equilibrium theory. Students will learn to set up and analyze microeconomic problems and understand microeconomics' role in decision-making. The course involves six hours per week of lectures and tutorials over 15 weeks. Student assessment will be based on participation, two midterm exams, and a final exam

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    Syllabus Microeconomics 2

    Uploaded by

    Hùng Phan
    23 views5 pages
    This document provides information about the Microeconomics Level 2 course offered by Assoc. Ph.D. Ho Dinh Bao at the Economics Faculty of NEU. The course is intended to develop students' intermediate-level microeconomic theory skills and their ability to analyze issues like consumer behavior, production, and market failures. It will cover topics such as consumption theory, production theory, perfect and imperfect competition, game theory, and general equilibrium theory. Students will learn to set up and analyze microeconomic problems and understand microeconomics' role in decision-making. The course involves six hours per week of lectures and tutorials over 15 weeks. Student assessment will be based on participation, two midterm exams, and a final exam

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    This document provides information about the Microeconomics Level 2 course offered by Assoc. Ph.D. Ho Dinh Bao at the Economics Faculty of NEU. The course is intended to develop students' intermediate-level microeconomic theory skills and their ability to analyze issues like consumer behavior, production, and market failures. It will cover topics such as consumption theory, production theory, perfect and imperfect competition, game theory, and general equilibrium theory. Students will learn to set up and analyze microeconomic problems and understand microeconomics' role in decision-making. The course involves six hours per week of lectures and tutorials over 15 weeks. Student assessment will be based on participation, two midterm exams, and a final exam

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    23 views5 pages

    Syllabus Microeconomics 2

    Uploaded by

    Hùng Phan
    This document provides information about the Microeconomics Level 2 course offered by Assoc. Ph.D. Ho Dinh Bao at the Economics Faculty of NEU. The course is intended to develop students' intermediate-level microeconomic theory skills and their ability to analyze issues like consumer behavior, production, and market failures. It will cover topics such as consumption theory, production theory, perfect and imperfect competition, game theory, and general equilibrium theory. Students will learn to set up and analyze microeconomic problems and understand microeconomics' role in decision-making. The course involves six hours per week of lectures and tutorials over 15 weeks. Student assessment will be based on participation, two midterm exams, and a final exam

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    Microeconomics – Level 2

    Convenor’s name and contact details: Assoc. Ph.D. Ho Dinh Bao


    Economics Faculty, NEU
    Room 802, Building 10, NEU
    Email: [email protected], [email protected]
    Mobile: 0943947241

    1
    Course Description

    Microeconomics level 2 is a course in modern microeconomic theory at a Graduate level. The


    purposes of the course is to develop students’ microeconomics background to the intermediate level
    and improve their ability in analysing microeconomic issues such as consumer and producer
    behaviour in long-term, choices under condition of uncertainty or government actions redressing
    market failure and so on. The course addresses the broad topics of consumption theory, production
    theory, theories of the competitive market, non-competitive markets, game theory and general
    equilibrium theory.

    Learning Outcomes
    On satisfying the requirements for this course, students will have the knowledge and skills to set-up
    and analyse microeconomic problems. Students will also be equipped with basic understanding of
    the important role that Microeconomics plays in formulating and analysing household, business and
    public policy decisions.

    Course Structure
    Six hours per week, including three hour lecture and three hour tutorial.

    Week Lecture Topics


    1 L1 Introduction + Indifference Curve analysis
    2 L2 More on Indifference Curve

    3 L3 Extensions of Consumer theory


    4 L3 Extensions of Consumer theory
    5 L4 Measuring Welfare
    6 L5 Household Economics

    7 L6 Production Theory

    8 Midterm Exam

    9 L7 Monopoly

    10 L8+9 Monopolistic Competition + Oligopoly


    11 L9+10 Oligopoly + Pricing
    12 L11 Game Theory
    13 L12 Market for Factors of Production
    14 L13 General Equilibrium
    15 Consolidation

    2
    Topics and Readings

    Textbooks
    Pindyck Robert S. and Rubinfeld L. Daniel. (2013). Microeconomics, 8th edition, , Pearson Prentice
    Hall.

    Recommended further readings


    Varian, H.R. (2010). Intermediate Microeconomics: A Modern Approach, 8th edition, New York,
    Norton.

    Himmelweit, S., Simonetti, R. and Trigg, A., (2001). Microeconomics: Neoclassical and
    Institutionalist Perspectives on Economic Behaviour, Thomson

    Nicholson, W. and C. Synder (2007). Microeconomic Theory: Basic Principles and Extensions, 10th
    edition, South-Western/Thomson Learning.

    Perloff, J. M. (2008). Microeconomics Theory and Applications with Calculus, Pearson International
    Edition.

    Perloff, J. M. (2007). Microeconomics, 5th edition, Pearson, Addison Wesley.

    Silberberg, Eugene and Suen, W. (2001). The Structure of Economics: A Mathematical Analysis, 3rd
    edition, McGraw Hill.

    Hoy, M., J. Livernois, C. McKenna, R. Rees and T. Stengos (2001). Mathematics for Economics, 2nd
    edition, MIT Press.

    There are many microeconomics books. If you find it difficult to understand a particular topic it would
    be helpful to study alternative books by another author who approaches the topic from a different
    perspective.

    Media Publications
    The following list includes media sources of relevant topics covered in this module. They will help
    you understand current economic and business affairs as well as connect microeconomic theory with
    its application.

    Broadsheet newspapers Specialist publications


    Financial Times, The Economist
    Guardian, The Economic Review
    Independent, Bank of England Quarterly Bulletin
    The Times, The OECD Economic Observer
    The Daily Telegraph, New Economy
    Observer, Business week
    Independent on Sunday Time magazine

    Given the aims of our module it is strongly recommended that you get into the ‘habit’ of looking
    through at least one of the above broadsheets on a daily basis.

    3
    Topics and readings
    1. Consumer theory and demand
    i. Basic consumer choice model
    Pindyck and Rubinfeld, Chap 3. 3.1-3.3
    Varian, Chs. 2-5
    ii. Individual and market demand
    Pindyck and Rubinfeld, Chap 4. 4.1-4.4
    Varian, Chs. 8
    iii. Measurement of welfare changes
    Pindyck and Rubinfeld, Chap 3. 3.6
    iv. Extension of consumer theory
    ❑ Work-leisure choice
    Pindyck and Rubinfeld, Chap 14 (pp. 529-530)
    Varian, Ch. 9
    ❑ Intertemporal consumer choice
    Intermediate Varian, Ch. 10
    ❑ Household utility function
    Himmelweit et al., Ch. 5-6
    ❑ Revealed preference
    Pindyck and Rubinfeld, Chs. 3, 3.4
    Varian, Ch. 7
    ❑ Uncertainty and consumer behaviour
    Pindyck and Rubinfeld, Ch. 5
    Varian, Chs. 11-12

    2. Producer theory
    i. Production with two variable inputs
    Pindyck and Rubinfeld, Chap 6. 6.3-6.4
    Varian, Chs. 18
    ii. Cost of Production
    Pindyck and Rubinfeld, Chap 7
    Varian, Chs. 21
    iii. Profit maximisation and competitive supply
    Pindyck and Rubinfeld, Chs. 8
    Varian, Chs. 19, 20, 22, 23

    3. Theory of the competitive market


    i. Perfect competition
    ii. Pricing-taking and profit maximisation
    Pindyck and Rubinfeld, Chs. 9

    4. Non-competitive markets
    i. Monopoly
    Pindyck and Rubinfeld, Chs. 10-11
    Varian, Chs. 24-26
    ii. Monopolistic Competition and Oligopoly
    Pindyck and Rubinfeld, Chs. 12
    Intermediate Varian: Ch. 27
    iii. Game theory
    Pindyck and Rubinfeld, Chs. 13
    Intermediate Varian, Chs. 28, 29

    4
    5. Market for factor inputs
    i. Labor market
    Pindyck and Rubinfeld, Chs. 26

    6. General equilibrium theory and Welfare economics


    i. Edgeworth Box
    ii. The two fundamental theorems of welfare economics
    iii. Pareto equilibrium
    Pindyck and Rubinfeld, Chs. 16
    Intermediate Varian, Chs. 31-33

    7. Market failures and the role of government


    i. Asymmetric information
    ii. Public goods
    iii. Externality
    Asymmetric information, Chs. 17-18
    Intermediate Varian, Chs. 34-37
    Assessment Criteria
    The final mark include the following components:

    Participation 10%
    Mid-term exam 1 20%
    Mid-term exam 2 20%
    Final exam 50%

    All exams are closed-books

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