ECO 302: Microeconomics A

Contents
The goal is to teach the functioning and the welfare properties of competitive markets. The emphasis is on the interdependence of different markets (general
equilibrium) and the resulting insights into welfare economics. Towards these goals the topics of preference relations, consumer theory, decisions under uncertainty, intertemporal decisions, producer theory and taxation of goods are introduced. Partial equilibrium is developed as a special case of general equilibrium. The taught knowledge of theoretical methods gets practiced in numerous applications. The technical aspects are amplified, in particular in the tutorials and in problems solved
in class. In contrast to the course Microeconomics B, the focus in Microeconomics A is on the analysis of non-strategic behavior. The knowledge obtained in Microeconomics A is essential for many advanced courses in economics and business administration.

Learning outcomes
The students are able to move away from the individual point of view when analyzing social situations. Instead, they comprehend the interaction of individuals are an important factor, in particular in the context of interdependent markets, of decisions under uncertainty, and of decisions with delayed consequences. The students
have learned to model economic problems as mathematical optimization problems under constraints and to think in terms of equilibria. After completing the course, the students are able to reproduce the obtained theoretical knowledge and to apply it to related problems. Furthermore, they have critically looked into the model of a competitive market and understand the assumptions that are necessary to make model applicable. The students are able to deepen their knowledge in advanced
courses as well as in self-study. The small number of participants per tutorial facilitates the interaction between the students and the tutors. Through the enfolding discussions, the students improve their ability to take field-related positions and formulate arguments to defend these.

Necessary prerequisites
semester 4 or higher

Recommended prerequisites
Basics of Economics

Examiner Performing lecturer

Prof. Dr. Thomas Tröger Prof. Dr. Thomas Tröger / Prof. Dr. Susanne Goldlü-cke (German version) / Prof. Dr. Thomas Tröger / Dr. Peter Vida (English version)