미시경제이론

이화여자대학교
오진환

페이스북 트위터 카카오톡 네이버밴드 링크복사

주제분류

사회과학 >경영ㆍ경제 >경제학
강의학기

2018년 1학기

조회수

5,528

강의계획서

<교재 및 출처>

- Feenstra, Robert and Alan Taylor (2011). International Economics. 2nd Ed. Worth Publishing (Required). An earlier version of this book can be used.

- Articles on World Trade Organization Understanding the WTO; World Trade Report 2014; Rules of Origin; AD/CVD/SG

- Chang, Ha-joon (2008). Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism.

- Stiglitz, Joseph E and Andrew Charlton (2005). Fair Trade for All: How Trade Can Promote Development

차시별 강의

1.	Constraint	This lecture first reviews the overall structure of the consumer theory and explains budget constraint and its changing shape as an example of scarcity
2.	Preferences & Utility	Understands 6 axioms to derive the theory of consumer preference and examines the shape of indifference curves, different kinds of preferences, and marginal rate of substitution. And then introduces utility functions to mathematically represent theory of preferences and revisit marginal utility and marginal rate of substitution using calculus
3.	Utility II	Shows that preference relations are ordinally maintained under
4.	Optimization	Find optimal consumption bundles through maximizing utility subject to budget constraint, through which a demand curve is derived. In addition, several propertities of the Cobb-Douglas utility function is examined.
5.	Demand and Slutsky II	The Slutsky Equation will derive Marshallian and Hicks Demand, which are analyzed depending on whether goods are normal, inferior, and Giffen. The case of perfect complements will be discussed as well.
6.	Labor Supply and Inter-temporal Choice	Reviews problem set questions based on Cobb Douglas preference and perfect complements
7.	Normal, Inferior, Ordinary, Giffen, Slutsky Equation	Normal, Inferior, Ordinary, Giffen, Slutsky Equation
8.	Consumer Surplus	Discusses compensating variation based on the Hicks demand and compares it with the change of consumer surplus. Reviews problem set questions based on Cobb Douglas preference and perfect complements
9.	example: insurance	state of nature, insurance premium, expected utility, certainty equivalent, risky asset
10.	review & Cost Minimization	Profit maximization is revisited through cost minimization with 1x2 model and examines the relationship between returns to scale and cost funciton
11.	Technology I	Introduces producer theory as opposed to consumer part. Using the Cobb-Douglas production function, this lecture examines diminishing marginal products, as well as decreasing, constant, and increasing returns to scale
12.	Cost Curves	Inrdoduces concepts like fixed cost, variable cost, average cost, and relate them with returns to scale. Provide graphical explanations on profit and shutdown points
13.	General Equilibrium I	Introduces the First Fundamentatl Theorem of Welfare Economics in which equilibrlium in efficient under certain conditions, and visualize this on the Edgeworth Box using the contract cuve where MRS of the two people's utility functions are equalized. Briefly mentions the tradeoffs between efficiency and equality, and provide several examples based on different kinds of utility functions
14.	Monopoly I	Examines the profit maximizing condition of a monopoly firm where marginal revenue is equal to marginal cost and find an equilibrium, an area of profit and deadeweigt loss in the graph with demand, average cost, and marginal cost. Find another deadweight loss and inefficient resource allocation in the case of tariff
15.	General Equilibrium II	Takes production part into considerations. A set of efficient allocation of labor and capital is derived where MRTS of two production functions are equalized. A PPF is derived from here.
	General Equilibrium III	Extend the topic from partial to general equilibrium analysis. Provide alebraic explanations on how to find equilibrium in a pure exchange economy
	Application to International Trade & Game Theory I	Introduces game elements and Nash Equilibrium. Also introduces the prisoners' dilemma game as an example of simultaneous non-cooperative game, and explains that individually best strategy may turn out to be not the best for the group
	Game Theory II	Examines multiple Nash Equilibrium and mixed strategy Nash Equilibrium, and show that equilibrium does exist
	Game Theory III	Examines the Stackelberg Equilibrium between leaders and followers in a sequential game, and briefly introduces asymmetric information and adverse selection as another field of economics dealing with imperfect information
	Game Theory IV	Reviews problem set questions, including nuclear power game as a prisoners' dilemma and coordinated investment game for the big push from development economics