KTTA2150 Microeconomics I (8 cr)

Open the course unit brochure on Sisu

Study level:

Intermediate studies

Grading scale:

0-5

Language:

English, Finnish

Responsible organisation:

Jyväskylä University School of Business and Economics

Curriculum periods:

2020-2021, 2021-2022, 2022-2023

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The most important goal of this course is to teach the central conceptual tools that make up every economist's toolbox. Hard work and a lot of fun.

Description

The most important goal of this course is to teach the central conceptual tools that make up every economist's toolbox. These are not so much specific skills or a specific set of knowledge, but much more a way to think. Exchange students should note that we go through some interesting aspects of game theory that may not be included in similar courses abroad.

Learning outcomes

On successful completion of the course, the student is able to:

* explain how a competitive market outcome is an equilibrium outcome;

* explain how a competitive market yields a Pareto optimal outcome;

* explain how a competitive market facilitates the flow of information on preferences and costs between market actors;

* explain how a competitive market is an answer to a mechanism design problem in terms of the above;

* analyze whether any specific market is likely to generate socially desirable outcomes;

* analyze the effects of proposed economic policies on markets' functioning;

* apply the Lagrange method for constrained optimization on economic problems;

* calculate and use basic economic statistics such as for example price indices and elasticities;

* apply basic game theoretic concepts, such as for example strategic dominance;

Additional information

Timing: 2nd year

KTTA2150 and KTTS2120 are given in sequence during the fall term. Though the timing of the courses will partially overlap, the intention is that a particularly hardworking exchange student could complete both in sequence.

Description of prerequisites

KTTP2110 Basics of Economics (exchange students need no prior knowledge of economics if willing to work hard)
JSBY1230 Talousmatematiikka 2 (Exchange students need to understand how to take derivatives of functions)

Study materials

Study materials will be made available through Moodle each year.

Completion methods

Method 1

Evaluation criteria:

Exam

Select all marked parts

Parts of the completion methods

Teaching (8 cr)

Type:

Participation in teaching