Objectives and competences
In this course students:
1. Systematically enhance their knowledge in the field of applied microeconomic analysis.
2. Gain the ability to apply microeconomic tools for analysis of markets with imperfect competition.
3. Gain the ability to apply microeconomic tools for analysis of different markets structures.
4. Gain the ability to apply data bases and run econometric analyses.
Content (Syllabus outline)
1. Market Mechanism and Prices
2. Consumer Behavior and Demand Analysis
3. Production Function and Cost Analysis
4. Supply Decision and Competitive Markets
5. Market Structure I.: Monopoly
6. Market Structure II.: Monopolistic Competition and Oligopoly
7. Markets for Factor Inputs
8. Data Applications and Econometric Analysis of Selected Markets.
Learning and teaching methods
- lectures;
- solving problems using econometric software (EViews and Stata);
- teachers' consultations;
- self study with literature.
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding
Students:
Knowledge base:
Have depth and systematic understanding of knowledge in microeconomics, focusing on analysis of markets and market mechanisms.
Disciplinary methodologies:
They are capable to apply the selected research metodology for data and econometric analysis for the estimation of market relations, and interpret the results derived from this methodology.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills
Students:
Analysis:
They can undertake analysis of complex and contradictory findigs from areas of market researches and they can effectively communicate the findings of their own applied research.
Synthesis:
They can synthesise findings from the research and they can utilise the knowledge, especially in understanding the price mechanisms of individual economies.
Application:
Can act autonomously in planning and implementing the applied tasks.
Key/Transferable skills
Students:
Learning resources:
Are able to use a range of learning and research resources.
Management of information:
Can competently undertake research tasks with moderate guidance.
Problem solving:
Have independent learning ability and understanding of the selected research methodology, required for continuing professional study.
Practical skills
Students:
Application of skills:
They get practical experience operating in conditions required by applied research work, and have an overview of the issues governing good practice.
Autonomy in skill use:
Are able to exercise initiative and personal responsibility by performing empirical research procedures.
Readings
Pindyck S. Robert, Rubinfeld L. Daniel. 2018. Microeconomics. 9/E, London: Pearson.
Perloff M. Jeffrey. 2018. Microeconomics: Theory and Applications with Calculus. 4/E, London: Pearson.
Hill, R. Carter, Griffiths, William E., Lim, Guay C. 2018. Principles of Econometrics. 5/E, Hoboken (NJ): J. Wiley.
Additional information on implementation and assessment Type (examination, oral, coursework, project):
- preparation and defence of seminar paper;
- written examination.
