COURSE INFORMATION
Course Title: MICROECONOMICS II
Code Course Type Regular Semester Theory Practice Lab Credits ECTS
ECO 202 B 4 4 0 0 4 5
Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: Eglantina Hysa , 9:30-13:15
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: NA
Teaching Assistant(s) and Office Hours: NA
Language: English
Compulsory/Elective: Compulsory
Classroom and Meeting Time: E-311
Course Description: Microeconomics II: The aim of this course is to examine the analytical framework used in microeconomics. New concepts are illustrated with entertaining and informative examples, both verbal and numerical. In addition, several purely ‘micro’ topics are illustrated with ‘macro’ applications. On the successful completion of this unit, students should have a clear understanding of the basic principles of microeconomics and with the aid of simple mathematical tools, be able to solve specific problems and answer questions appropriate to this level. Topics include supply, demand and equilibrium, the behavior of consumers, the behavior of firms, production and costs, competition welfare economics, knowledge information, monopoly, market power, collusion and oligopoly, the theory of games, external costs and benefits, common property and public goods, the demands for factors of production, the market for labor, risk and uncertainty.
Course Objectives: This course builds on the microeconomic principles studied in the Level I courses and provides an analysis of the way in which the market system functions as a mechanism for coordinating the independent choices of individual economic agents. It develops a basis for evaluating the efficiency and equity implications of competition and other market structures, and a perspective on the appropriate role of government. Included are the study of consumer choice, production and cost, market structure, and market failure.
COURSE OUTLINE
Week Topics
1 Consumer Surplus
2 Market Demand
3 Overview of Market Equilibrium
4 Technology and Production
5 Profit Maximization
6 Cost minimisation
7 Midterm Exam
8 Cost Curves
9 Firm Supply/Industry supply
10 Monopoly
11 Oligopoly
12 Introduction to Game Theory
13 Review
14 Final Exam
Prerequisite(s):
Textbook: Microeconomics by Hal R. Varian 8th edition
Other References:
Laboratory Work:
Computer Usage:
Others: No
COURSE LEARNING OUTCOMES
1 Solve the firm's cost minimization problem to derive input demands and compute the cost function
2 Use the cost function to solve the perfectly competitive firm's profit maximization problem and derive supply
3 Evaluate the impacts of changes in exogenous variables on the optimal behavior of consumers and firms and the resulting impacts on utility and profits
4 Use equilibrium analysis to understand the links between individual behavior and market-level outcomes in competitive markets
5 Assess and quantify the impacts of public policies on competitive markets
6 Evaluate the implications of departures from perfect competition, such as markets with externalities, public goods, monopolies, or imperfect competition
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Bachelor in Economics (3 years) Program
1 Students define the fundamental problems of economics 5
2 Students describe key economic theories 5
3 Students critically discuss current developments in economics 5
4 Students appropriately use software for data analysis 5
5 Students critically contextualize the selection of an economic problem for research within scholarly literature and theory on the topic 5
6 Students apply appropriate analytical methods to address economic problems 5
7 Students use effective communication skills in a variety of academic and professional contexts 5
8 Students effectively contribute to group work 5
9 Students conduct independent research under academic supervision 5
10 Students uphold ethical values in data collection, interpretation, and dissemination 5
11 Students critically engage with interdisciplinary innovations in social sciences 5
12 Student explain how their research has a broader social benefit 5
COURSE EVALUATION METHOD
Method Quantity Percentage
Midterm Exam(s)
1
40
Final Exam
1
60
Total Percent: 100%
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
Activities Quantity Duration(Hours) Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours) 16 4 64
Hours for off-the-classroom study (Pre-study, practice) 0
Mid-terms 0
Assignments 0
Final examination 0
Other 0
Total Work Load:
64
Total Work Load/25(h):
2.56
ECTS Credit of the Course:
5