Ugrás a tartalomhoz

MICROECONOMICS I

Gergely Kőhegyi, Dániel Horn, Klára Major

ELTE Közgazdaságtudományi Tanszék, MTA Közgazdaságtudományi Intézet, Balassi Kiadó

Content: What is microeconomics, Descriptive and normative analysis. Rationality. Scarcity. Individual decision making and societal behavior. Notion of the market. List of topics to be covered during the semester.Modeling and mathematical models. Variables (endogen variables), parameters (exogenous variables) and the role of functions. The model of supply and demand (mathematical representation, defining and analyzing the equilibrium, comparative static, change in parameters in general and due to government intervention. Taxes, quotas, price ceiling etc.) Mathematical representation and interpretation. Modeling of different markets (defining a market, isolated markets, relation of markets, difference between the general and the partial equilibrium) Relationship between macro- and microeconomics. Individual decision based societal behavior Finding an optimum. Average and marginal quantities. Preferences (notion of preference ordering, understanding axioms, notion of goods, geometric representation). Representing preferences with utility functions. Ordinal and cardinal utility. Utility function as a multivariable function. Notion, origin and understanding of marginal utility. Notion, origin and understanding of indifference curves and their characteristics. Special preferences. Mathematical consequences. Characteristics of goods (classifying goods). Origin of preferences and utility, how we measure them? Consumption optimum. Budget constraint. Role of variables and parameters. A heuristic approach to consumer optimum. Geometric depiction (relation of convexity with necessary and sufficient conditions, problem of corner solutions and their economic interpretation). Conditions for consumer optimum using cardinal or ordinal utility functions. Finding the optimum, multiple methods, “normal” utility curves Finding the optimum, multiple methods, complementary goods and substitutes, other special cases Individual and market demand. Consumer behavior under changing circumstances. Modeling questions: role of variables and parameters. The Income Expansion Path, the Engel curve, Price Expansion Path, Demand curve Income and substitution effect of a price change. Problem of decomposition, different approaches. Separation of effects and classification of goods. Aggregating individual demands, market demand Demand theory, contd. Notion of elasticity. Income and price elasticity. Demand curve and elasticity. Classifying goods based on demand. Empirical possibilities of defining a demand curve. Other empirical examples. Firm as a unit of decision making. Entrepreneur, owner, manager. Microeconomic notion of firm. Profit, revenue and costs. Types of costs, cost curves. The optimal decision of the firm. The shutdown decision. Division of outputs among plants. Cost functions: short and long run. Effects of economies of scale on the optimal decision. Application: peak and off peak operation. Equilibrium on the competitive markets. Supply function on the short and long run. External economies and diseconomies. Firm survival and the zero profit theorem. Benefit of exchange: consumer and producer surplus. Welfare effects of state interventions: taxes, quotas and price setting Optimal decision of monopolies. Decision under linear demand. Relation of the optimum and the price-elasticity of demand. Monopoly vs. perfect competition. Applications. Monopoly and social welfare: analysis of welfare effects. Regulation of monopolies. Demand for factor services. Production and factor employment with a single variable input. The notion of production function. Diminishing returns reconsidered and its relation to the production function. The notion of marginal product. Relation of production functions and cost functions. Relation of cost minimization and profit maximization. Demand for a single factor service. Production and factor employment with several variable inputs. Multivariate production functions, isoquants, marginal products, geometric representation and function analysis. Finding the optimal input usage. Relation with cost functions. Duality. Industry’s demand for inputs. Competitive factor market and monopsony. Welfare questions. Application: labor market and minimum wage regulations. Resource supply and factor market equilibrium. Optimum of resource owners. Income and price expansion path on the labor market. Application: the incentive effects of welfare and social security. Individual factor supply and market factor supply. Equilibrium on the factor service market. Application: sources of wage inequalities. Summary.

Tartalomjegyzék

Letölthető anyagok
microeconomics_I_01.pdf
microeconomics_I_01-ppt.pdf
microeconomics_I_02.pdf
microeconomics_I_02-ppt.pdf
microeconomics_I_03.pdf
microeconomics_I_03-ppt.pdf
microeconomics_I_04.pdf
microeconomics_I_04-ppt.pdf
microeconomics_I_05.pdf
microeconomics_I_05-ppt.pdf
microeconomics_I_06.pdf
microeconomics_I_06-ppt.pdf
microeconomics_I_07.pdf
microeconomics_I_07-ppt.pdf
microeconomics_I_08.pdf
microeconomics_I_08-ppt.pdf
microeconomics_I_09.pdf
microeconomics_I_09-ppt.pdf
microeconomics_I_10.pdf
microeconomics_I_10-ppt.pdf
microeconomics_I_11.pdf
microeconomics_I_11-ppt.pdf
microeconomics_I_12.pdf
microeconomics_I_12-ppt.pdf
microeconomics_I_13.pdf
microeconomics_I_13-ppt.pdf
nulla_mikro_angol.pdf
sillabuszmikroang1.pdf
DC metaadatok
Cím:
MICROECONOMICS I
Szerzők:
Gergely Kőhegyi, Dániel Horn, Klára Major
Kiadó:
ELTE Közgazdaságtudományi Tanszék, MTA Közgazdaságtudományi Intézet, Balassi Kiadó
Közreműködők:
ELTE TáTK Közgazdaságtudományi Tanszéke, MTA Közgazdaságtudományi Intézet, Balassi Kiadó
Források:
eredeti tananyag
Nyelv
Angol
Tárgyszavak
nature and scope of economics, consumer theory, production theory, perfect competition, monopoly, demand for factor services and distribution of income
Elektronikus tartalomfejlesztés és szolgáltatás a kutatásban és felsőoktatásban
Elektronikus tartalomfejlesztés és szolgáltatás a kutatásban és felsőoktatásban
TÁMOP 4.2.5.B Tudományos és felsőoktatási tartalmak központi elektronikus közzétételének biztosítása