The aim of the course is to improve knowledge and understanding of microeconomic theory and its methods beyond the basics learned in the KS and IK courses Introductory Microeconomics.
The course deals on an intermediate level with theoretical models that try to explain, for example, the behaviour of individuals when faced with uncertainty or imperfect information. Moreover, the students become familiar with mathematical methods frequently used in microeconomics and learn to assess the strengths and weaknesses of the respective models. By this, the course provides students with the required foundations in microeconomic analysis necessary to tackle more advanced economic courses.
1. Preferences and utility functions
2. Consumer choice and demand for goods
3. More consumer theory: expenditure minimization, compensated demand and the Slutsky equation
4.Endowments (of goods and time) is the budget constraint
5. Intertemporal choice
6. Choice under uncertainty
Prerequisites for attending
Basics in Microeconomics
Lecture and in-class discussion
Final (written) exam