KS Intermediate Microeconomics

Susanne Pech

Course objectives
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.

Course content
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

Method
Lecture and in-class discussion

Assessment
Final (written) exam