Time and place
The course takes place in room B103, 15:00, each Wednesday.
Voluntary tutorials take place at 16:45 every SECOND week, room B.
In the General Equilibrium part of the course we introduce consumer and producer theory in order to provide a simple framework for further analysis of general equilibrium problems.
During the last 2 classes we will introduce examples in computable general equilibrium modelling.
After some introductory material in class, you will have to complete the assignments either on your home computer or in the computer lab. Relevant software will be provided.
Exams
The midterm exam is going to take place in December. Exact time to be determined.
Midterm exam retake is going to take place in January. Exact time to be determined.
Final exam takes place in the winter examination session.
New! Midterm results
Computer labs
Computer labs time and place will be established later in the semester. Usually we meet in the computer labs for the last two classes.
Schedule and course materials
Some of the material may be skipped due to time constraints. The tentative schedule is the following – click on the appropriate links for material:
- Introduction
- Read Chapter 1-2, MWG
- Notes for the upcoming tutorial
- Example of quasi-linear preferences
- Consumer theory – part 1
- Consumer theory – part 2
- Read Chapter 3, MWG
- Note: for more intuition consult: chapters 2-6 in Varian, Intermediate Microeconomics, 7th edition. In particular pay attention to the mathematical appendices.
- A small GAMS program to compute demands from utility functions. You can get GAMS from here. To open the file – download GAMS, install it, run GAMSIDE or GAMS Studio and open it in it. You can then find a “run” button and press it to run the program.
- The example of perfect substitutes with corner solutions in GAMS
- Problem set 1
- Solution to the CES problem
- Solutions to selected problems from PS1 (new!)
- Presentation about GAMS
- Some of the duality proofs
- Welfare analysis and aggregation
- Read Chapter 3.I MWG and Chapter 4.A MWG (Chapter 14 in the “Intermediate” Varian)
- Production sets and production functions
- Chapter 5.A and 5.B MWG, chapter 18 in the “Intermediate Varian”.
- CES vs. Cobb-Douglas – change the rho. An example in excel.
- Profit maximization and cost minimization
- Example– Cobb Douglas cost function derivation and calibration.
- Readings: MWG: Chapter 5.C and 5.D (Chapters 19-22 in the “Intermediate” Varian, Chapters 4-6 in “Graduate” Varian).
- Problem set 2
- CES cost minimization
- —- The above material will be required on the midterm exam
- Pure exchange economies
- Readings MWG, chapter 15B, “Graduate” Varian: Chapter 17, “Intermediate” Varian, Chapter 31
- Robinson-Crusoe economy
- Readings MWG, chapter 15C, “Graduate” Varian: Chapter 18, “Intermediate” Varian, Chapter 32
- Small open economy
- Readings MWG, chapter 15D, “Graduate” Varian: Chapter 18, “Intermediate” Varian, Chapter 32
- Example
- An SOE Example – Presentation | Derivations with more details
- Problem set 3
- The general model
- Readings MWG, chapter 16, “Graduate” Varian: Chapter 18, “Intermediate” Varian, Chapter 32
- A 2×2 example to be discussed in the help session.
- A full fledged “world-economy” model
- Computable general equilibrium – Introduction
- Computer classes.
- Instructions for labs
- Codes for labs
- Social Accounting Matrix for a closed economy
- Prof. A. Deardorff’s Page explaining the SOE results
- GAMS excel interface
- Download GAMS from www.gams.com
- World Economy Model
- —- The material above (1-4) will be required on the final exam
Course_License_________________________________S231004| 0002AO-GEN University_of_Warsaw,_Faculty_ of_Economic_Sciences__________ _____ 1498162401____________________ ______________________________ _____ 2140985506____________________ ______________________________ _____ DCE2354______g_7______________ _________________A_Course_____ _____ License_Admin:_Jan_Hagemejer,_ j.hagemejer@uw.edu.pl_________ _____
News
- Advanced Micro: midterm retake results
- Advanced Micro: midterm exam results
- Advanced Micro: midterm retake results
Note: pdfs for lectures 1-6 contain some information and pictures taken from dr Mikolaj Czajkowski’s slides
Textbooks:
- (MWG) Mas-Colell, A., M. D. Whinston, J. R. Green, Microeconomic Theory, Oxford University Press, 1995
- (“Graduate” Varian) Varian, H. R., Microeconomic Analysis, W. W. Norton & Co., ed. 3′
- (“Intermediate” Varian) Varian, H. R., Intermediate Microeconomics, ed. 7
- Browsing through Google Books I discovered this undergratuate book that has some chapters/pages accessible for free and some of the production concepts are well explained here with numerical examples (Chapter 8 and Chapter 9). For consumer-related problem see earlier chapters (2-6, unfortunately access is provided only to some pages).
Course rules
1. Completing Advanced Microeconomics requires completing the two separate parts:
- General Equilibrium Theory – dr Jan Hagemejer
- Game Theory – prof. Tomasz Żylicz
2. In order to complete my part of the course students need to collect at least 50% combined points from the two following components:
- part-exams (midterm and final – weighted 90%);
- computer assignments (10%).
3. Part-exams are written exams to be taken by all students at the same time (only one date for everyone).
5. There will be only one possibility to retake any of the failed part-exams. This will be organized for all students at the same time.
6. Absence from any of the exams is equivalent to failing it.
7. There will be no other possibilities of completing the course.
8. ‘ZERO tolerance for cheating’.
Comments and FAQ’s
Now you can post comments directly from the website.