Microeconomics Analysis Advanced

Overview

This unit is an introduction to modern microeconomic theory and as such has three purposes: (i) to introduce students to the major ideas of modern microeconomics and to develop their understanding of these ideas; (ii) to develop students' facility with analytic economic models; and (iii) to develop students' ability to solve economic problems with the ideas, techniques, and models available to professional economists. Topics covered include (i) individual decision-making by economic agents, (ii) the determination of prices and resource allocation in competitive general equilibrium models, (iii) strategic behaviour by firms under imperfect competition, and (iv) contracting with imperfect information.

Topic 1: Preference and Utility

Topic 2: Budget, Choice, Revealed preference

Topic 3:Classical consumer theory 1

Topic 4:Classical consumer theory 2 and Uncertainty 1

Topic 5:Uncertainty 2

Topic 6:Production

Topic 7: Exchange Economy

Topic 8:General Equilibrium

Topic 9:Game theory 1: static games, oligopoly

Topic 10:Game theory 2: dynamic and repeated games, Stackelberg, collusion

Topic 11:Selected topics in asymmetric information: adverse selection, signaling, moral hazard

Topic 12:Selected topics in asymmetric information