Fall 2017

Microeconomics, part III
Second year

Course instructor: Olga Kiuila

Course Hours: Friday, 9:45 a.m., room B105

Office Hours: Friday, 8:00 a.m., room B006 (registration required)

  • Course description: syllabus

  • Topics: case studies and problem sets

  • Active participation: max 20 points per semester, max 2 points per lecture. Points can be earned for the following activity:
    - homework (you may wish to make your homework in 2-3 person groups). Cheating will be punished with all your points cancelation.
    - solving problem sets at the white-board
    - asking and answering questions (the basic rule - There are no stupid questions). Please do not be afraid to ask questions.
    - active participation in discussions
    - case study analysis with relevant problem sets. Four case studies will be conisdered.
    - development of new examples (not covered by textbooks)
    - theory discussion
    The attendance list is not checked, active participation is counted only. If a Student was present in the class but did not participate actively (i.e. no points was collected), it will be interpreted as the Student was absent from the class. Points are awarded for your effort and regardless the correct answer. For being unprepared for the lecture (i.e. no points for activity) negative points will be awarded: 3 unpreparedness = -1 point.

    There will be 3 unannounced short tests (open questions) before December 15. It is neccesary to pass only one of them (there are no extra points, but you loose 5 points if non of them is passed).

  • Papers: instruction
    Students interested to write their paper must fulfill the following conditions jointly before December 15: (i) acceptance of the topic via personal disscusion and (ii) at least 5 points for activity. Collaborative works (max 2 persons per paper) are possible, but will be evaluated more restrictively. The deadline for submission (in both versions: paper and electronic) is January 10.

  • Debate (the last lecture in December): Genetic Tests (deadline for the role selection is November 30)

  • Homeworks: to complete exercises from the previous topic + careful reading of current topic in a textbook (slides are useless without textbook reading!)

  • Exam (jointly for all groups): examples

  • Students that repeat the course may get the points from the previous year for the Debate and the Paper.

    This is a SEMINAR - your active participation expected!

    The slides are based on prof. Hal Varian presentations

  •   Lecture 1: equilibrium (Varian ch. 14-15), solution for the problems 3, 4 (set 1)

  •   Lecture 2: government intervention (Varian ch. 16)

  •   Lecture 3: exchange (Varian ch. 29) + case 1

  •   Lecture 4: general equilibrium (Varian ch. 29), solution for the problem 4 (set 3)

  •   Lecture 5: comparative advantage (Varian ch. 30), solution for the problem 4, 5 (set 4)

  •   Lecture 6: public goods (Varian ch. 35) + experiment "Voting"

  •   Lecture 7: public choice (Varian ch. 31, 35) + case 2

  •   Lecture 8: externalities (Varian ch. 32)

  •   Lecture 9: market failure (Varian ch. 32) + experiment "Negotiations"

  •   Lecture 10: negative selection (Varian ch. 36)

  •   Lecture 11: principal-agent problem (Varian ch. 36) + lottery

  •   Lecture 12: moral hazard and signaling (Varian ch. 36) + experiment "Contract"

  •   Lecture 13: debate - points

  •   Lecture 14: law and economics (Varian ch. 33) + case 3

    Reminder: no lectures in January 19-26. Lecture 15 will take place in February 7 at 10:30am room 102

  •   Lecture 15: examples of the exam questions + experiment "Exchange" (a good knowledge of lectures 3-5 is necessary for the experiment)

    Points for the activity, debate, and paper