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This document provides an outline for the course contents of IDEC 8064 Masters Microeconomics over 13 weeks. It includes readings from various economics textbooks and journal articles covering topics such as production theory, costs and profits, general equilibrium theory, cost and profit functions, stochastic production and cost frontiers, applications of stochastic frontiers, index number methods, consumer theory, welfare measures, optimal control theory, intertemporal consumption, economic dynamics, and uncertainty. Key readings are cited from authors such as Coelli, Rao, Battese, Layard, Walters, Silberberg, and Suen.
This document provides an outline for the course contents of IDEC 8064 Masters Microeconomics over 13 weeks. It includes readings from various economics textbooks and journal articles covering topics such as production theory, costs and profits, general equilibrium theory, cost and profit functions, stochastic production and cost frontiers, applications of stochastic frontiers, index number methods, consumer theory, welfare measures, optimal control theory, intertemporal consumption, economic dynamics, and uncertainty. Key readings are cited from authors such as Coelli, Rao, Battese, Layard, Walters, Silberberg, and Suen.
This document provides an outline for the course contents of IDEC 8064 Masters Microeconomics over 13 weeks. It includes readings from various economics textbooks and journal articles covering topics such as production theory, costs and profits, general equilibrium theory, cost and profit functions, stochastic production and cost frontiers, applications of stochastic frontiers, index number methods, consumer theory, welfare measures, optimal control theory, intertemporal consumption, economic dynamics, and uncertainty. Key readings are cited from authors such as Coelli, Rao, Battese, Layard, Walters, Silberberg, and Suen.
Weeks 1-2: Basic Production Theory, Costs and Profits
T. Coelli, P. Rao and G. Battese, An Introduction to Efficiency and Productivity Analysis, Boston: Kluwer, 2003, pp. 11-37. ...................................................................................................... 1 O. de la Grandville, Economic Growth: A Unified Approach, New York: Cambridge, 2009, pp. 31-37, 48-50. ..................................................................................................................... 15 Week 3: Basic General Equilibrium Theory P. Layard and A. Walters, Microeconomic Theory, New York: McGraw-Hill, 1978, pp. 63-81. .... 21 E. Silberberg and W. Suen, The Structure of Economics: A Mathematical Analysis, 3rd edition, Boston: McGraw-Hill, 2001, pp. 537-50. ..................................................................... 31 Weeks 4-5: Cost and Profit Functions and Duality E. Silberberg and W. Suen, The Structure of Economics: A Mathematical Analysis, 3rd edition, Boston: McGraw-Hill, 2001, pp. 74-82, 151-56, 175-211. .......................................... 39 T. Coelli, P. Rao and G. Battese, An Introduction to Efficiency and Productivity Analysis, Boston: Kluwer, 2003, 39-67. ........................................................................................................... 67 Week 6: Stochastic Production and Cost Frontiers T. Coelli, P. Rao and G. Battese, An Introduction to Efficiency and Productivity Analysis, Boston: Kluwer, 2003, pp. 183-192. ................................................................................................. 82 R. Q. Grafton, J. Kirkley, T. Kompas and D. Squires, Economics for Fisheries Management, London: Ashgate, 2006, pp. 1-13, 57-74........................................................................................... 88 Week 7: Applications of Stochastic Frontiers T. Kompas, N. Che and R. Q. Grafton, Technical efficiency effects of input controls: evidence from Australias banana prawn fishery, Applied Economics, 2004, 36, 1631-41. ......... 105 T. Kompas and N. Che, Efficiency gains and cost reductions from individual transferable quotas, Journal of Productivity Analysis, 2005, 23, 285-307. ....................................................... 116 Week 8: Index Number Methods and Applications T. Coelli, P. Rao and G. Battese, An Introduction to Efficiency and Productivity Analysis, Boston: Kluwer, 2003, pp. 69-81. .................................................................................................. 140
R. Q. Grafton, J. Kirkley, T. Kompas and D. Squires, Economics for Fisheries Management,
London: Ashgate, 2006, pp. 105-114. ............................................................................................. 147 T. Kompas, N. Che, H. Nguyen, Q. Nguyen, Productivity, net returns and efficiency: Land and market reform in Vietnamese rice production, Crawford School of Economics and Government, ANU, 2010. ............................................................................................................... 153 Weeks 9-10: Consumer Theory and Basic Welfare Measures E. Silberberg and W. Suen, The Structure of Economics: A Mathematical Analysis, 3rd edition, Boston: McGraw-Hill, 2001, pp. 252-86. .................................................................... 191 P. Layard and A. Walters, Microeconomic Theory, New York: McGraw-Hill, 1978, pp. 123-160..................................................................................................................................... 209 Week 11: Optimal Control Theory and Intertemporal Consumption M. Hoy, J. Livernois, C. McKenna, R. Rees and T. Stengos, Mathematics for Economists, New York: Addison-Wesley, 1996. Chapter 25. ............................................................................ 229 E. Silberberg and W. Suen, The Structure of Economics: A Mathematical Analysis, 3rd edition, Boston: McGraw-Hill, 2001, pp. 368-91. .................................................................... 271 Week 12: Applications of Economic Dynamics N. Che, T. Kompas and N. Vousden, Incentives and static and dynamic gains from market reform: Rice production in Vietnam, Australian Journal of Agricultural and Resource Economics, 2001, 547-72. ............................................................................................................... 283 R. Grafton, T. Kompas, L. Chu and N. Che, Maximum economic yield, Australian Journal of Agricultural and Resource Economics, 54, 2010, 273-80. ............................................ 309 T. Kompas, R, Grafton and N. Che, Bioeconomic losses from harvesting tuna, Conservation Letters, 3, 2010, 177-83. ........................................................................................... 317 Week 13: Uncertainty P. Layard and A. Walters, Microeconomic Theory, New York: McGraw-Hill, 1978, pp. 351-73, 382-90. ......................................................................................................................... 324 E. Silberberg and W. Suen, The Structure of Economics: A Mathematical Analysis, 3rd edition, Boston: McGraw-Hill, 2001, pp. 394-410. .................................................................. 341
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