607.137 (23W) ECON 1: Microeconomics

Wintersemester 2023/24

Anmeldefrist abgelaufen.

Erster Termin der LV
19.10.2023 13:00 - 14:30 S.2.05 On Campus
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Überblick

Lehrende/r
LV-Titel englisch ECON 1: Microeconomics
LV-Art Vorlesung-Kurs (prüfungsimmanente LV )
LV-Modell Präsenzlehrveranstaltung
Semesterstunde/n 3.0
ECTS-Anrechnungspunkte 6.0
Anmeldungen 25 (28 max.)
Organisationseinheit
Unterrichtssprache Englisch
LV-Beginn 19.10.2023
eLearning zum Moodle-Kurs
Anmerkungen

Please, look at the introductory tutorial slides for submission deadlines with regard to problem sets. 

Zeit und Ort

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LV-Beschreibung

Intendierte Lernergebnisse

Following StEOP, Microeconomics offers an introduction to fundamental microeconomic concepts. Core topics are consumer behavior, production, decision-making by firms in competitive markets and when exerting market power, as well as an introduction to game theory.

Lehrmethodik

This course consists of two parts, a lecture and a tutorial part. To prepare for class(es), please check out recommended readings and provided lecture slides.

In the lecture, fundamental concepts of microeconomic theory are presented; in the tutorial part, you will solve and review problems that are related to the theory presented. All tutorials are identical in structure.

For the tutorial part, you will have to prepare take home problem sets and participate in short quizzes at the end of tutorial sessions. The parallel sessions are identical in structure and content. Nevertheless, please register for either one. 

The tutorial sessions divide lecture content into 10 blocks (cf. “Lehrinhalte”). Studying relevant lecture slides and reference chapters before tutorial sessions will foster finding accurate answers and comprehension of the subject.

Problem sets:

  • Problem sets will be made available via learning platform Moodle.
  • Students are asked to find answers and tick boxes of answers they carefully prepared in AAU’s student portal ZEUS and, additionally, upload their answers – one file with all answers - via Moodle prior to the start of the related session.
  • Deadline to fill out “Kreuzelliste” and solution upload is on the same day the tutorial takes place by 12 a.m.
  • Please name the document as follows:
     “CourseNo_name_PSNo“ (e.g., “607.135_Smith_PS1”)
  • During the tutorial sessions, you will be randomly asked to present and explain answers that you marked: You should be able to explain your answer fully. You may be deducted up to 5 penalty points if you are absent without notification in advance, or, if the instructor evaluates your presentation as insufficient.
  • A maximum of 20 credits can be earned from solving exercises of the problem sets.

Quizzes: 

For the final 15 minutes of each tutorial, you will participate in a mini quiz via Moodle. It consists of two questions, a multiple-choice and an open question. You can earn up to 2 credits for each quiz, i.e. you can reach a further 20 credits at maximum.

Attendance and participation:

There is a possibility to receive bonus credits for especially active participation during class. Attendance of tutorial sessions is mandatory. You may be excused for a max. of two tutorial sessions but are asked to inform your instructor in advance.


Inhalt/e

  • Preliminary discussion, administrative matters, principles
  • Supply and demand; elasticities
  • Consumer behavior
  • Individual demand and market demand
  • Production and Production costs
  • Profit maximization and competition
  • Analysis of competitive markets
  • Market power – Monopoly
  • Monopolistic competition & Oligopoly
  • Game Theory
  • Markets with asymmetric information and auctions

Principle (reading) schedule for tutorial sessions: 


  1. Basics: Markets and Prices; Supply and Demand [P+R 2017], Ch. 1+2
  2. Supply and Demand; Elasticities [P+R 2017], Ch. 2
  3. Consumer Behaviour [P+R 2017], Ch. 3
  4. Individual demand and market demand [P+R 2017], Ch. 4
  5. Production [P+R 2017], Ch. 6
  6. Production cost [P+R 2017], Ch. 7
  7. Profit maximization and competitive supply [P+R 2017], Ch. 8
  8. Market power – Monopoly; General Equilibrium [P+R 2017], Ch. 10+16.2
  9. Game Theory [LBS 2008], Ch. 1-4 or [G 2008], Ch. 1.1+Ch. 2.1
  10. Markets with asymmetric information and auctions, [P+R 2017], Ch. 17+13.8

Curriculare Anmeldevoraussetzungen

Further administrative details will be announced during the 1st sessions of both lecture and tutorial.

Literatur

Main text book:

Pindyck, R. and Rubinfeld, D. (2017). Microeconomics. Pearson Prentice Hall.  [P+R 2017] The e-book is available in the library.

Additional textbooks useful with regard to course content about game theory: 

Gibbons, R. (1992). A Primer in Game Theory. Pearson. [G 2008]

Lleyton-Brown, K. and Shoham, Y. (2008). Essentials of Game theory. Morgan & Claypool Publishers. [LBS 2008]

Prüfungsinformationen

Im Fall von online durchgeführten Prüfungen sind die Standards zu beachten, die die technischen Geräte der Studierenden erfüllen müssen, um an diesen Prüfungen teilnehmen zu können.

Prüfungsmethode/n

Lecture and tutorial part are evaluated separately. Yet, there will be one final exam comprising a lecture and a tutorial exam. The lecture exam will take the form of multiple-choice with max. 64 credits in total, the tutorial exam will consist of two problems for which you have to provide detailed answers with max. 20 credits in total.  

Mimimum requirement to be admitted to the final exam is 8 credits from problem sets and quizzes each. 

Pass mark for the lecture exam is 42 credits. Pass mark for the tutorial is 30 credits. For the tutorial part, in addition, students must have scored at least 8 credits in each component (problem sets, quizzes, final tutorial exam). Cf. grading tables below.

Both lecture and tutorial part account for 50% of the final grade. To pass Microeconomics, course participants have to pass both the lecture and the tutorial part.

There is ONE possibility of re-take of the entire final exam. 

Attendance of tutorial sessions is mandatory. You may be excused for two tutorial sessions but are asked to inform your instructor in advance.

Prüfungsinhalt/e

Lecture and tutorial content.

Beurteilungskriterien/-maßstäbe

Tentative grading scheme for the lecture:


Credits

Grade

64-60

Sehr gut (A)

59-54

Gut (B)

53-48

Befriedigend (C)

47-42

Genügend (D)

41-

Nicht genügend (E)

 

Tentative grading scheme for the tutorial part:


Credits
Grade

60,00-

52,5
Sehr gut (A)

52,25-

45,0
Gut(B)

44,75-

37,5
Befriedigend(C)

37,25-

30,0
Genügend(D)

29,75-

0,0
Nicht genügend (E)

Beurteilungsschema

Note Benotungsschema

Position im Curriculum

  • Bachelorstudium International Business and Economics (SKZ: 516, Version: 19W.1)
    • Fach: Principles of Economics (Pflichtfach)
      • 2.2 ECON 1: Microeconomics ( 0.0h VC / 6.0 ECTS)
        • 607.137 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
          Absolvierung im 1., 2., 3. Semester empfohlen

Gleichwertige Lehrveranstaltungen im Sinne der Prüfungsantrittszählung

Wintersemester 2023/24
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2022/23
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2021/22
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2020/21
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2019/20
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Sommersemester 2019
  • 607.135 VC Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2018/19
  • 607.135 VC Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2004/05
  • 607.137 VO Grundlagen der Makroökonomik / Repetitorium (2.0h / 3.0ECTS)