Lecture: Intermediate Microeconomics - Details
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General information

Semester SS 2021
Current number of participants 65
Home institute VWL, insb. Wirtschaftsethik
Courses type Lecture in category Offizielle Lehrveranstaltungen
Learning organization Literature for the lectures „Intermediate Microeconomics“:
Varian, Hal R. (1987, 2006): Intermediate microeconomics: a modern approach, 7. Ed., New York
or: Varian, Hal R. (1987, 2007): Grundzüge der Mikroökonomik, 7. Auflage, Oldenburg.

Recommended for the application-oriented case-studies:
Hamilton, Jonathan H. und Valerie H. Suslow (2005): Übungen zur Mirkoökonomie, München.
Pyndick, Robert S. und David L. Rubinfeld (2001): Microeconomics, 5. Auflage, New York.
or Pyndick, Robert S. und David L. Rubinfeld (1998): Mikroökonomie, 4. Auflage, Oldenburg.

Suggestions for further studies:
Friedman, David (1996): Hidden Order: The economics of every day life, New York.
or: Friedman, David (2004): Der Ökonomische Code: Wie wirtschaftliches Denken unser Handeln bestimmt, München.
Landsburg, Steven E. (1993): The Armchair Economist, New York.

Course location / Course dates


Module assignments


Microeconomics is a scientific method that helps to explain social phenomena. Its main question is: How does a change of data change the rates? Examples: How does a society’s rate of unemployment react when the employers withdraw from financing of social security payments? How does its crime rate react to cutbacks in the social welfare system? How does the inflation rate change when the amount of money rises? How does the birth rate react to the rising of prices for childcare? How does the social saving rate react to higher interest rates?

To analyze those reactions, the lectures proceed in three steps: In a first step the participants of a market are analyzed separately (households and companies, respectively). In a second step, the interaction of the participants in a market is analyzed. Finally, the analysis of the market is deepened further by an exploration of the institutional framework into which the markets are embedded (state, insurance market, credit market).