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Cursus: EC1PME
EC1PME
Principles of Microeconomics
Cursus informatie
CursuscodeEC1PME
Studiepunten (EC)7,5
Cursusdoelen
.
Inhoud
This course cannot be followed by students economics and business economics (U.S.E.). It cannot be combined with 'Microeconomics, Institutions and Welfare' (ECB1MI).

This course is:
  • Elective in Bachelor Programme in Law and in other non-economic Bachelor programmes;
  • Other economic elective;
  • Introductory course for Minor Economics for non-economics students;
  • Required in most Economics Premaster Programmes. 
Content 
When will a manager of a firm decide to expand production? What will induce a larger increase in the demand for education: a voucher system, a matching grant or a non-matching grant? What are the costs for the government when it supports the farmers with a per unit subsidy and is such a subsidy socially efficient? Why did the former Netherlands Competition Authority (NMA) prescribe KPN Telecom to set higher prices? When does it make sense for a firm to introduce a variable-wage payment scheme? Such questions will be treated in this course.

The course is especially designed for non-economics students, whether they want to follow just a single economics course, whether they want to have a firm basis in microeconomics to be able to follow further elective courses in economics, whether they want to do the course as part of a minor in Economics, whether they want to study law & economics, i.e. the economic analysis of law, or whether they want to prepare to participate in a Master Programme in Economics. 
 
Learning objectives 
At the end of the course the student is able to:
  • Reason in terms of scarcity, relative prices, income and substitution effects, demand and supply, markets and market imperfections, including in situations where uncertainty, interacting actors and asymmetric information play a role;
  • Recognise microeconomic aspects in social problems and to analyse these aspects with a modelling approach (graphically as well as algebraically);
  • To analyse social problems by applying methodological individualism.
Format 
All meetings are combinations of lectures and tutorials.
 
Assessment method
  • Mid-term examination (40% of the final grade);
  • End-term examination (60% of the final grade).
The examinations are closed book exams consisting of open questions. 

Effort requirements 
Adequate preparation of, and active participation in 80% of the tutorials. 

Prerequisite knowledge
Secondary school mastery of elementary calculus is assumed. 

Entry requirements
You cannot be enrolled only in the following programmes:
  • Economics and Business Economics
  • Economie en Bedrijfseconomie
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