Microeconomic Analysis

The study of microeconomic analysis at the advanced level is aimed at: - Exploring the nature of economic motivation and principles of behavior of various microeconomic entities (consumers, companies, households); - Thorough mastering fundamental concepts of microeconomic science and mathematical methods and models of their proof, probation and practical application; - Mastering the principles and methods of optimization of microeconomic problems (partial and general equilibrium), setting of strategic solutions and managing policies based on the optimization; - Exploring the principles of economic decision-making under uncertainty and mastering the methods of measuring the risk of decision-making; - Establishing a basis for a wide range of research in a number of economic disciplines.

The candidate should master the system of motivation, logical reasoning and decision-making in the economy, as well as the application of methods of microeconomic analysis that are essential in various fields of economic research. The following should be verified as a specific learning outcome: - Application of methods for identification of various types of behavior of market participants; - Ability of choice, installation and application of measurement methods of achieving economic goals (optimization); - Ability of measuring the influence of market changes on the behavior of market participants; - Ability of applying the methods of identifying market morphology; - Ability of analyzing the behavior of market structures; - Ability of creating measures of economic policy with the influence on the behavior of market participants; - Ability of measuring the effects of economic policy on the behavior of market participants ...

Theory of consumer behavior; production theory; risk and theory of choice under uncertainty; partial and general equilibrium; theory of market structures; welfare economics; game theory; theory of externalities.

Lectures, seminars paper and independent work of candidates.

Study research pre-exam paper and taking final oral exam.

Mas-Colell A., Whinston, M.D. and Greer, J.R. (1997). Microeconomics Theory. Oxford University Press. Varian, H. (1992). Microeconomics Analysis, 3rd edition. Norton. Jehle, G. A. and Reny, P.J. (2001). Advanced Microeconomic Theory, 2nd edition. Addison-Wesley.