Microeconomics of Household Behaviour

Uitgebreide vaknaam	Microeconomics of Household Behaviour
Leerdoelen	Upon completion of the course the student is able to: 1. construct relevant mathematical microeconomic models explaining e.g. consumption, saving and labor supply. 2. use those microeconomic models to analyze the effects of social security and pension reforms and of tax policy. 3. critically evaluate international journal articles about these topics. 4. communicate his/her views in writing.
Omschrijving	The course will cover intertemporal models of consumption, saving and retirement decisions and review the empirical evidence on these issues. Particular attention will be paid to the question whether people save enough for retirement and to the saving behaviour of older people. Intertemporal choices will be analysed in the context of the life-cycle framework. However, deviations from economic rationality and the standard life-cycle model will also be evaluated.
Uren per week	4
Onderwijsvorm	-interactief hoorcollege
Toetsvorm	-groepsopdracht,  -schriftelijk tentamen (open vragen)
Vaksoort	master
Coördinator	Dr. M. Groneck
Docent(en)	prof. dr. R.J.M. Alessie ,Dr. M. Groneck , A.J. van der Vaart
Verplichte literatuur	Titel Auteur ISBN Prijs Scientific articles Various
Entreevoorwaarden	The course also goes into the mathematical details of the models. Students should have a working knowledge of a) simple constrained optimization problems using the method of Lagrange multipliers. b) Household optimization (Microeconomics) c) working knowledge of econometrics (OLS, IV)
Opmerkingen	Coordinator: dr. Max Groneck, m.groneck@rug.nl, room 541.0721. Secretary: Helena Lei, h.lei@rug.nl room 5411.0734, +31 (0)50 3637018.
Opgenomen in	Opleiding Jaar Periode Type Courses Exchange (MSc)  ( Courses Exchange Students (MSc) without limited access) 1 semester II a keuze DD MSc Economics - Universidad de Chile, Santiago (1,5-jarig)  (keuzevakken voor studenten uit Chili) 2 semester II a keuze MSc BA - Health  (keuzevakken B MSc BA Health) 1 semester II a keuze MSc Economics  (keuzevakken A MSc Economics) 1 semester II a keuze MSc Finance  (keuzevakken B MSc Finance) 1 semester II a keuze