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Principles of international microeconomics

ОК09

Обов’язкова дисципліна для ОП

First

2021/2022

2 Semester

3

Knowledge of the basic principles and theories of microeconomic analysis; modern directions of development of microeconomic theory; basic assumptions, prerequisites and stages of the analysis of the household’s, consumer’s and manufacturer’s (firm) behavior; types, features, main models of basic market structures: perfect competition, monopoly, monopolistic competition and oligopoly. Ability to find the equations of individual consumption and supply, market equilibrium, price and income elasticity coefficients, cross elasticity, optimal taxation, etc.; to calculate and interpret the results of consumer behavior modeling and estimate the firm's optimal production volume; to use elements of game theory to model a situation in an oligopoly market; to calculate the parameters of the markets for factors of production; to find the conditions of general equilibrium within the framework of different theoretical approaches; to evaluate the consequences of market failures.

Distance form

It is assumed that students know basic economic concepts and the foundations of mathematical analysis and linear algebra.

Introduction. 1. Demand, supply, and the mechanism of their balancing. 2. Elasticity and adaptation of the market. 3. Theory of consumer behavior: the purpose of a consumer. 4. Budget constraints and consumer choice. 5. Changing the balance of a consumer. Individual and market demand. 6. The purpose of production. Restrictions on a manufacturer in the short term. 7. A company's choice of the optimal volume of output in the short term. 8. Restrictions on a manufacturer and the balance of the firm and industry in the long run. 9. The effectiveness of a competitive market system. 10. Features of a firm's behavior in the market of pure monopoly.11. The strategy of a firm's behavior in the market of monopolistic competition. 12. Models of oligopoly. 13. Demand, supply, and equilibrium in the market of production factors. 14. Market failure and the need for government intervention in the economy.

1. Bazilinskaya O.Ya., Minina O. Microeconomics. 2nd edition. Center for Educational Literature. 2019. 352 p. 2. Analytical economics: macroeconomics and microeconomics. Apriori. 2017. 567 p. 3. Mankiw N. Gregory Principles of Microeconomics. 8th Edition. 2017. 528 p. 4. Krugman Paul. Wells Robin Microeconomics. 5 Ed. Worth Publishers. 2017. 688 p. 5. Pindyck Robert, Rubinfeld Daniel Microeconomics. Pearson; 9th ed. 2017. 784 p.

Lecture, seminar

1. Oral presentations, problem solving – up to 50 points. 2. Individual work – up to 30 points. 3. Modular control work – up to 20 points.

Ukrainian