Bachelor
2024/2025
Microeconomics 1
Type:
Compulsory course (International Programme in Economics and Finance)
Area of studies:
Economics
Delivered by:
International College of Economics and Finance
When:
2 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Language:
English
ECTS credits:
5
Course Syllabus
Abstract
Microeconomics-1 is a one-semester course for second year students. In the course of Microeconomics-1 students are expected to deepen their understanding of basic concepts, add further tools of analysis and develop their skills in applying theory to economic problems using graphical and algebraic analysis as well as intuitive explanation. Intermediate Microeconomics is a core discipline under world standards. It forms the basis of further economic studies in applied disciplines such as: industrial organisation, public sector economics, labour economics, international economics, corporate finance, development economics, etc. The course is taught in English. The students are also studying for a Russian degree in Economics, and knowing Russian terminology through reading in Russian is also required. Pre-requisites: Students are supposed to be competent in basic economic analysis and calculus. The course itself provides a basis (and so serves as a prerequisite) for Microeconomics 2.
Learning Objectives
- to expand the students’ knowledge in the field of microeconomics and develop skills for analysis of real economic situations
- to provide students with the knowledge of basic microeconomic models' assumptions, internal logic and predictions, grounding the explanations on intuitive and graphical approach with addition of some algebra and calculus studied simultaneously in the course of Mathematics for Economists
- to develop the students' ability to apply the knowledge acquired to the analysis of specific economic cases, recognising the proper framework of analysis and constructing the adequate economic models within this framework
Expected Learning Outcomes
- define key concepts and describe the models and methods used in economic analysis
- formulate real world issues in the language of economic modelling
- apply and use the economic models to analyse these issues
- discuss the potential and limitations of the models and methods used in economic analysis
Course Contents
- The Theory of Consumer Behaviour
- The Theory of the Firm
- Markets and Market Structure
- Factor Markets
- Welfare economics and the role of government
Assessment Elements
- Home assignmentsNormally home assignments are offered once per week (to be submitted via smart lms), average mark is included into the final grade.
- Control paperUnsween in-class written paper
- Final examUnseen in-class written paper In order to get a passing grade for the course, the student must sit the exam (all parts of the exam if the exam is divided into parts).
Interim Assessment
- 2024/2025 2nd module0.29 * Control paper + 0.63 * Final exam + 0.08 * Home assignments
