PAST CORE COURSES

MI0607 MICROECONOMIC THEORY

Basic Information

• Location: Helsinki, University of Helsinki

• Time: Academic year 2006-2007

  • Autumn term: Microeconomic Theory I

  • Spring term: Microeconomic Theory II

The course is divided in two parts: Microeconomic Theory I (autumn term) and Microeconomic Theory II (spring term). In total the course includes 48 hours of lectures and 24 hours of exercises (app. 5 credits/7 ECTS credit points). Only those having passed the exercises can participate in the exams.

The course can be passed by:

• taking two midterm exams (points of the midterm exams are added together): the first midterm exam is arranged in the autumn term and the second midterm exam is arranged in the spring term AND/OR

• taking a retake exam in the spring term (part I and II must be examined together) AND

• getting 40 % of the combined maximum points of the two midterm exams (at the minimum) AND

• solving a sufficient number of problems correctly (separately for part I and part II): in practise this means that the exams (both the midterm exams and the retake exam) can only be taken by those who have solved at least one third of the problems "showing good effort" so that the principles of solution are correct - mistakes in mechanical calculations are allowed, however.

Please note that the students' home departments are responsible for registering the grades according to their own requirements. FDPE gives the students, on request, a certificate of the courses passed within the programme.

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Teaching Staff

• Instructors:

  • Part I: Professor Juuso Välimäki (Helsinki School of Economics)

  • Part II: Dr Hannu Vartiainen (Yrjö Jahnsson Foundation)

• Teaching Assistant:

  • Part I: Paavo Miettinen (University of Helsinki)

  • Part II: Olli Ropponen (University of Helsinki)

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Topics

Topics covered in the course include:

• consumer choice

• theory of the firm

• welfare theory

• imperfect competition

• game theory

• uncertainty and imperfect information

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