INSTITUT FÜR RISIKOMANAGEMENT UND VERSICHERUNG
INSTITUTE FOR RISK MANAGEMENT AND INSURANCE
Lecture
Formal Modelling Methods:
An Introduction to Microeconomic Theory
Lecturer
Chair or Institute
Institute for Risk Management and Insurance
Lecturer:
Dr. Richard Peter, MBR
e-mail: [email protected]
Time & Location:
The course will take place from June, 30 to July, 5 2014.
(see precise schedule below)
Schackstraße 4, room 307
Credits:
Core course MBR, counts as 2 contact hours. In order to obtain
credits, a paper has to be handed in. The deadline will be announced
in class.
Course Description
This course is an introduction to microeconomic theory with a focus on the underlying formal
methods. The course covers individual decision making, elements of game theory, market
equilibria in the partial and the general equilibrium sense and elements of welfare economics. It
also explains the mathematical tools commonly used in microeconomics.
Assignment/Grades
Your assignment for the course is to write a paper in your area that applies the concepts and
models developed in class. The paper should utilize one (or more) of the models studied to
provide the theoretical structure and develop empirically testable hypotheses or guide the
empirical analysis. The paper should contain an introduction that explains the research problem,
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what is known about the research problem and how additional empirical analysis may contribute
to our understanding of the issue. The paper should contain an analysis of the model that is as
the basis for the empirical research. The paper should also contain a (possibly brief) section
explaining what data might be used to carry out an empirical analysis.
Deliverables
Project Proposal: Write a short proposal (2 or 3 pages) describing the research problem and the
model you propose to use. The deadline for proposals is July 27.
Preliminary Draft (Optional): This should be a complete draft of the project. This will be
reviewed and corrected but not graded.
Final Draft: This version of the project will be the basis for your grade in the course. The
deadline is October 1. The projects will be evaluated based on the quality of the research, on the
organization of the paper and on the clarity and quality of the writing. The length of the paper
should not exceed 20 pages. Deliverables should be single pdf documents. The file name should
be your last name (e.g., peter.pdf). Deliverables should be emailed to [email protected].
Course Outline
Date
Room
Session
Topic
30.06.2014
307
9 - 12 pm
Individual Decision Making
1 - 5 pm
Individual Decision Making
9 - 12 pm
Game Theory
2 - 6 pm
Game Theory
9 - 12 pm
Market Equilibrium and
02.07.2014
03.07.2014
307
307
Market Failure
1 - 5 pm
Market Equilibrium and
Market Failure
04.07.2014
05.07.2014
307
307
LEITUNG
Professor Dr. Andreas Richter
9 - 12 pm
General Equilibrium
1 - 5 pm
General Equilibrium
9 - 12 pm
Welfare Economics and Incentives
1 - 5 pm
Welfare Economics and Incentives
INTERNET
http://www.inriver.bwl.uni-muenchen.de
BÜRO
Schackstraße 4 / III. OG
ERREICHBAR MIT
U3/U6 Universität
-3-
Textbooks
Mas-Colell, A., Whinston, M. and J. Green. Microeconomic Theory, Oxford: Oxford University
Press, 1995.
Gravelle, H. and R. Rees. Microeconomics, London: Prentice Hall, 2004.
Varian, H.R. Microeconomic Analysis, New York: Norton & Company, 1992.
LEITUNG
Professor Dr. Andreas Richter
INTERNET
http://www.inriver.bwl.uni-muenchen.de
BÜRO
Schackstraße 4 / III. OG
ERREICHBAR MIT
U3/U6 Universität