LOJK10256U Applied Microeconomic Analysis

Volume 2013/2014
Education
MSc Programme in Agricultural Economics
Content

We study leading economic literature on selected advanced topics in microeconomics. The specific topics to be discussed in class will be determined at the beginning of the course and may include (but not necessarily be limited to)

• Allocation and externalities in networks

• Auctions and mechanism design

• Advanced production economics

• Contract design

• Methods for decision support

The literature will mainly be theoretical, but the curriculum may also contain surveys or applied and empirical papers. Additional topics are investigated by the students themselves guided by their own interests.

Learning Outcome

The main objective of the course is to present the students for important topics in microeconomics and make them familiar with recent advanced literature in the area. Hence, students will be trained in reading scientific articles from leading economics journals. Studying journal articles is very different from reading textbooks and may be very challenging and time consuming for the students. An important part of the course is to help students overcome these challenges and to show them how to approach such literature in a fruitful way.

Upon completing this course, the students should be able to

Knowledge:

• summarise the main contributions of the articles discussed in class as well as their individual paper.

Skills:

• study scientific journal articles with theoretical, empirical and/or applied content within the area of microeconomics and

- identify the central contributions of the article

- explain the main results in terms of assumptions, methodology, and economic intuition

- relate the article to other relevant research within the area

- identify potential questions for further analysis as well as possible strategies for addressing those questions

Competences:

• formulate a structured and coherent paper in English on a topic within the area of microeconomics

• make a short and structured presentation of scholarly work (own contributions as well as published work)

• engage in group discussions in English

• critically and constructively reflect on the work of other scholars (fellow students as well as published work)

Literature

a. R. Chambers, Applied production analysis, Cambridge 1988

b. P. Bogetoft and H.B. Olesen, (2004), “Design of production contracts”, Copenhagen: CBS Press

c. P. Bogetoft and H.B. Olesen, (2007), “Cooperatives and payment schemes”, Copenhagen: CBS Press

d. J.L. Hougaard, (2009), 'An Introduction to Allocation Rules', Springer.

e. Journal articles

Any course in microeconomics at intermediate or graduate level
Lectures by the instructor and exercises
  • Category
  • Hours
  • Exam
  • 3
  • Lectures
  • 40
  • Practical exercises
  • 43
  • Preparation
  • 120
  • Total
  • 206
Credit
7,5 ECTS
Type of assessment
Oral examination
Written assignment
The exam takes the form of a student seminar, at which all students are assessed at a common session. Each student makes a presentation of their own paper and performs as a discussant for another student’s paper.
Exam registration requirements
An individual paper submittet and approved. Topic chosen in agreement with the teacher (max 15 pages).
A short “referee” report on another students paper as well as playing the role as a discussant
Aid
All aids allowed
Marking scale
7-point grading scale
Censorship form
No external censorship
One internal examiner
Re-exam
If 10 or fewer register for the reexamination the examination form will be oral.
Criteria for exam assesment

The student is evaluated on the written paper (weight 50%), the referee report and discussant performance (weight 25%) and prsentation in class of paper (weight 25%).