applied microeconomics introduction
Academic year 2013/14
LM Economics and Market Policy
Applied Microeconomics
C Benassi corrado.benassi@unibo.it Office hrs: Mon 11-12
6 hrs per week - 10 weeks
—————————————————————
Course outline:
1. General introduction
2. Consumption and Demand
Theory: (a) Basic issues in the theory of consumer’s choice: preferences and budget constraints, demand functions and their properties; (b) Duality in consumption;
Applications: (a) Applied analysis and expenditure systems; (b) Separability and
aggregation; (c) Welfare indices; (d) Labour supply; (e) Durable goods.
3. Consumption choices and uncertainty
Theory: (a) Axiomatic foundations of expected utility theory; (b)Non EU theories: basic models
Applications: (a) Consumption CAPM; (b)
Inequality indices and income distribution
4. Topics in applied microeconomics
5. General Equilibrium
Theory: The basic model
Applications: Computability and some applications Background
1. I expect you to be familiar with the material covered by a standard undergraduate course in microeconomics, plus some basic maths
(differentiation, simple integration) and some basic statistics (distributions, mean, variance etc). 2. Some obvious pieces of advice:
a. You should do your best to attend lectures: though I shall post my slides, these are no substitute for the real thing and you are going to have problems if you just drop in occasionally; b. If you experience any difficulty, you should come to my office hrs. Do not wait until it is too late.
Assessment
1. There are 6 dates at which you can sit your exam in each academic year, the first one being at the end of the course.
2. The exam consists of a set of 6 open questions, each worth up to 5 points (min
pass grade: 18, max 30)
3. Regular student option:
a. Upon arrangement with the class teacher, students can undertake a mid-term class presentation on an assigned paper, which is graded and worth up to 10 points
(i.e., 1/3
LM Economics and Market Policy
Applied Microeconomics
C Benassi corrado.benassi@unibo.it Office hrs: Mon 11-12
6 hrs per week - 10 weeks
—————————————————————
Course outline:
1. General introduction
2. Consumption and Demand
Theory: (a) Basic issues in the theory of consumer’s choice: preferences and budget constraints, demand functions and their properties; (b) Duality in consumption;
Applications: (a) Applied analysis and expenditure systems; (b) Separability and
aggregation; (c) Welfare indices; (d) Labour supply; (e) Durable goods.
3. Consumption choices and uncertainty
Theory: (a) Axiomatic foundations of expected utility theory; (b)Non EU theories: basic models
Applications: (a) Consumption CAPM; (b)
Inequality indices and income distribution
4. Topics in applied microeconomics
5. General Equilibrium
Theory: The basic model
Applications: Computability and some applications Background
1. I expect you to be familiar with the material covered by a standard undergraduate course in microeconomics, plus some basic maths
(differentiation, simple integration) and some basic statistics (distributions, mean, variance etc). 2. Some obvious pieces of advice:
a. You should do your best to attend lectures: though I shall post my slides, these are no substitute for the real thing and you are going to have problems if you just drop in occasionally; b. If you experience any difficulty, you should come to my office hrs. Do not wait until it is too late.
Assessment
1. There are 6 dates at which you can sit your exam in each academic year, the first one being at the end of the course.
2. The exam consists of a set of 6 open questions, each worth up to 5 points (min
pass grade: 18, max 30)
3. Regular student option:
a. Upon arrangement with the class teacher, students can undertake a mid-term class presentation on an assigned paper, which is graded and worth up to 10 points
(i.e., 1/3