Description
Microeconomics IV is the last course in the microeconomic sequence and provides an extensive treatment of the markets functioning. It starts with the discussion of the second input market (for capital). Next, the course will provide an overview of the general equilibrium models and show that competitive markets achieve allocative efficiency. A short introduction to the theory of public choice and preference aggregation will be presented. The course will also introduce market failures such externalities and public goods when competitive markets do not achieve socially optimal equilibria. At the end of the course we will investigate a few economic models relevant to the information (economics of networks, switching costs, and information goods). We will also briefly return to information asymmetry studied in Microeconomics III. The material covered in this course will provide students with the background required in many other areas of economics (e.g. international trade, public economics, contract theory).
Will be interesting for
- Analysts working at public sector organizations and research centers, students, professors, and scientists.
After course completion, you will be able to
- Understand and apply the concept of the net present value
- Understand the basis of the general equilibrium analysis.
- Understand how voting rules affect the voting outcomes.
- Analyze the implications of market failures on the market outcomes and identify the suitable solutions for such market failures.
- Understand the concept of network externalities and impact of information on the market functioning
Prerequisites:
Consumer and producer theory, calculus
Faculty:
Elena Besedina – PhD Bocconi University
Language
English
Education format
Twice a week, course duration – seven weeks
Start
Mondays at 10.30-11.50 and Thursdays 12.00-13-20
Price
10 000 uah
Course outline
1. Ринки факторів виробництва: Ринок капіталу
2. Загальна конкурентна рівновага та ефективність
3. Соціальний вибір, добробут і політекономія публічної політики
4. Провали ринку: зовнішні ефекти та суспільні блага
5. Інформація та інформаційна асиметричність
