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Winter
2001, Module 3
Lecturer:
Alla
Friedman
Teaching
assistants: Andrey Rachinsky, Ahmed Ahmedov, Alexey
Makrushin, Irina Slinko.
General
Description:
This
course represents the last part of the Intermediate Microeconomics.
This part deals mainly with factor markets, general equilibrium
and welfare economics.
Textbooks
W.
Nicholson, Microeconomic Theory. Basic Principles and Extensions,
7th(or 6th) edition.
Students
may also use other Intermediate Microeconomics textbooks, for
example, Hal R.Varian “Intermediate Microeconomics - a Modern
Approach” or R. Pindyck & D.Rubinfeld “Microeconomics”.
Additional
reading (more advanced books):
Gravelle
H. and Rees R., Microeconomics, 2nd edition, Longman,
1992.
Hal
R.Varian “Microeconomic Analysis”, 3rd edition, 1992.
Course
Outline
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Nicholson,
7th ed.
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Nicholson,
6th ed.
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1.
Factor Markets
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Chs.21-23
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Chs.23-25
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2.
Pure Exchange Economy
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Ch.
17 (pp.533-537)
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Ch.
8
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3.
General Competitive Equilibrium with Production
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Ch.
16
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Ch.
17
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4.
Welfare Properties of General Equilibrium
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Ch.
17
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Ch.
18
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5.
Market Failures: Externalities
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Ch.
24
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Ch.
26
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6.
Market Failures: Public Goods
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Ch.
24
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Ch.
26
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7.
Public Choice Theory
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Ch.
25
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Ch.
27
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Assessment
There
will be 6 problem sets which students are required to hand in.
The
course grade will be calculated according do the following formula:
course
grade = max{100%exam, 70%exam+30%problem_sets}
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