PAST CORE COURSES

MI0708 MICROECONOMIC THEORY

Basic Information

• Location: Helsinki, University of Helsinki

• Time: Academic year 2007-2008

  • Autumn term: Microeconomic Theory I

  • Spring term: Microeconomic Theory II

• Deadline for applications: August 24, 2007

  • Application form

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.

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Teaching Staff

• Instructors:

  • Part I: Professor Hannu Vartiainen (Turku School of Economics and YJS)

  • Part II:

    • Professor Klaus Kultti (University of Helsinki)

    • Professor Matti Liski (Helsinki School of Economics)

    • Dr Pauli Murto (Helsinki School of Economics)

    • Professor Hannu Vartiainen (Turku School of Economics and YJS)

    • Professor Juuso Välimäki (Helsinki School of Economics)

• Teaching Assistant:

  • Part I: Olli Ropponen (University of Helsinki)

  • Part II: Olli Ropponen (University of Helsinki)

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Course Requirements and Exam

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) or getting 40 % of the maximum points of the retake exam (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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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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