WMEA2100 Microeconomics

Hiroshima University Syllabus

Japanese

Academic Year 2024Year School/Graduate School Graduate School of Humanities and Social Sciences (Master's Course) Division of Humanities and Social Sciences Economics Program

Lecture Code WMEA2100 Subject Classification Specialized Education

Subject Name ミクロ経済学

Subject Name
（Katakana）ミクロケイザイガク

Subject Name in
English Microeconomics

Instructor HORIE MAYUMI

Instructor
(Katakana) ホリエ　マユミ

Campus Higashi-Senda Semester/Term 1st-Year, First Semester, First Semester

Days, Periods, and Classrooms (1st) Mon11-12：Higashi-Senda Seminar Rm 3

Lesson Style Lecture Lesson Style
(More Details) 　

Credits 2.0 Class Hours/Week 　 Language of Instruction J : Japanese

Course Level 5 : Graduate Basic

Course Area（Area） 24 : Social Sciences

Course Area（Discipline） 03 : Economics

Eligible Students 1st year students

Keywords Microeconomics, market equilibrium, competitive equilibrium under risk, securities market

Special Subject for Teacher Education 　 Special Subject 　

Class Status
within Educational
Program
(Applicable only to targeted subjects for undergraduate students)
Criterion referenced
Evaluation
(Applicable only to targeted subjects for undergraduate students)

Class Objectives
/Class Outline In this course, students acquire the basic knowledge of microeconomics that they will be expected to master in graduate school, and learn and deepen their understanding of the methods used in the finance field literature. In particular, the goal is to acquire and be able to use the basics of market equilibrium under uncertainty, equilibrium analysis of securities markets, and capital asset pricing models (CAPM).
Following the basic methods of microeconomics, the course describes consumer and firm behavior, explains market equilibrium and general equilibrium, and illustrates the concept of efficiency for evaluating market outcomes. We will then formulate uncertainty, introduce market equilibrium under risk, and connect it to equilibrium analysis of securities markets. In order to deepen understanding, students will be trained to solve problems in the form of assignments.
The course content will be modified according to the students' goals and level of understanding.

Class Schedule lesson1 Basic Concepts and Analytical Methods
lesson2 Consumer behavior (1): preference and utility functions; utility maximization and demand
lesson3 Consumer behavior (2): variations in demand and classification of goods; theory of exchange
lesson4 Consumer behavior (3): duality approach; Slutsky equation
lesson5 Firm behavior (1): cost and supply; production technology and cost
lesson6 Firm behavior (2): demand for production factors; short-term and long-term costs
lesson7 Firm behavior (3): properties of cost functions; production sets; production sets and profits
lesson8 Equilibrium in competitive economy (1): market equilibrium; market adjustment
lesson9 Equilibrium in competitive economy (2): competitive equilibrium in exchange economy; competitive equilibrium in production economy
lesson10 Economic welfare
lesson11 Uncertainty and information (1): expected utility; attitude toward risk
lesson12 Uncertainty and Information (2): insurance and asset selection; market equilibrium under risk
lesson13 Securities market (1): equilibrium of securities market; mean-variance approach
lesson14 Securities Markets (2): capital asset pricing model
lesson15 Securities market (3): corporate finance

Students are required to solve and submit assignments (homework).
A final exam will be scheduled at the end of this course.

Text/Reference
Books,etc. TBA

PC or AV used in
Class,etc. 　

(More Details)

Learning techniques to be incorporated 　

Suggestions on
Preparation and
Review Students are required to prepare for the course by reading the relevant parts of the textbook. Students will be assigned exercises, so please be sure to solve the problems before the next lecture. Explanations of problems may be provided in the form of explanatory videos, so please be sure to watch and review them. (On average, about 2 hours of study time for preparation, review, and problem solving will be expected.)

Requirements You are supposed to study on your own initiative.

Grading Method Grades will be evaluated based on the final examination with 70 points and assignments with 30 points, for a total of 100 points.

Practical Experience

Summary of Practical Experience and Class Contents based on it

Message

Other

Please fill in the class improvement questionnaire which is carried out on all classes.
Instructors will reflect on your feedback and utilize the information for improving their teaching.

Academic Year	2024Year	School/Graduate School	Graduate School of Humanities and Social Sciences (Master's Course) Division of Humanities and Social Sciences Economics Program
Lecture Code	WMEA2100	Subject Classification	Specialized Education
Subject Name	ミクロ経済学
Subject Name （Katakana）	ミクロケイザイガク
Subject Name in English	Microeconomics
Instructor	HORIE MAYUMI
Instructor (Katakana)	ホリエ　マユミ
Campus	Higashi-Senda	Semester/Term	1st-Year, First Semester, First Semester
Days, Periods, and Classrooms	(1st) Mon11-12：Higashi-Senda Seminar Rm 3
Lesson Style	Lecture	Lesson Style (More Details)

Credits	2.0	Class Hours/Week		Language of Instruction	J : Japanese
Course Level	5 : Graduate Basic
Course Area（Area）	24 : Social Sciences
Course Area（Discipline）	03 : Economics
Eligible Students	1st year students
Keywords	Microeconomics, market equilibrium, competitive equilibrium under risk, securities market
Special Subject for Teacher Education		Special Subject
Class Status within Educational Program (Applicable only to targeted subjects for undergraduate students)
Criterion referenced Evaluation (Applicable only to targeted subjects for undergraduate students)
Class Objectives /Class Outline	In this course, students acquire the basic knowledge of microeconomics that they will be expected to master in graduate school, and learn and deepen their understanding of the methods used in the finance field literature. In particular, the goal is to acquire and be able to use the basics of market equilibrium under uncertainty, equilibrium analysis of securities markets, and capital asset pricing models (CAPM). Following the basic methods of microeconomics, the course describes consumer and firm behavior, explains market equilibrium and general equilibrium, and illustrates the concept of efficiency for evaluating market outcomes. We will then formulate uncertainty, introduce market equilibrium under risk, and connect it to equilibrium analysis of securities markets. In order to deepen understanding, students will be trained to solve problems in the form of assignments. The course content will be modified according to the students' goals and level of understanding.
Class Schedule	lesson1 Basic Concepts and Analytical Methods lesson2 Consumer behavior (1): preference and utility functions; utility maximization and demand lesson3 Consumer behavior (2): variations in demand and classification of goods; theory of exchange lesson4 Consumer behavior (3): duality approach; Slutsky equation lesson5 Firm behavior (1): cost and supply; production technology and cost lesson6 Firm behavior (2): demand for production factors; short-term and long-term costs lesson7 Firm behavior (3): properties of cost functions; production sets; production sets and profits lesson8 Equilibrium in competitive economy (1): market equilibrium; market adjustment lesson9 Equilibrium in competitive economy (2): competitive equilibrium in exchange economy; competitive equilibrium in production economy lesson10 Economic welfare lesson11 Uncertainty and information (1): expected utility; attitude toward risk lesson12 Uncertainty and Information (2): insurance and asset selection; market equilibrium under risk lesson13 Securities market (1): equilibrium of securities market; mean-variance approach lesson14 Securities Markets (2): capital asset pricing model lesson15 Securities market (3): corporate finance Students are required to solve and submit assignments (homework). A final exam will be scheduled at the end of this course.
Text/Reference Books,etc.	TBA
PC or AV used in Class,etc.
(More Details)
Learning techniques to be incorporated
Suggestions on Preparation and Review	Students are required to prepare for the course by reading the relevant parts of the textbook. Students will be assigned exercises, so please be sure to solve the problems before the next lecture. Explanations of problems may be provided in the form of explanatory videos, so please be sure to watch and review them. (On average, about 2 hours of study time for preparation, review, and problem solving will be expected.)
Requirements	You are supposed to study on your own initiative.
Grading Method	Grades will be evaluated based on the final examination with 70 points and assignments with 30 points, for a total of 100 points.
Practical Experience
Summary of Practical Experience and Class Contents based on it
Message
Other
Please fill in the class improvement questionnaire which is carried out on all classes. Instructors will reflect on your feedback and utilize the information for improving their teaching.

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