Microeconomic Theory II.

ECTS credits: 
Course Description: 

The purpose of this course is to present some topics which are part of the core of modern microeconomics, namely elements of game theory and topics in information economics. The course is a continuation of the Microeconomic Theory I course. During the course both rigour and intuition will be emphasized.

Learning Outcomes: 

Successful completion of the course enables students to

  • Understand how mathematical methods and rigorous analysis are used to formalize economic concepts and ideas.
  • Posses a critical understanding of modern microeconomic theory at the introductory graduate-level of diculty.
  • Be able to set up and solve mathematical models describing specic economic problems at the introductory level of diculty.
  • Understand and formalize the ineciencies arising from non-competitive market structures.
  • Understand and formalize strategic interaction of economic agents.
  • Understand and formalize the ineciencies arising from asymmetric information distribution between economic agents.

There will be eight homework assignments and the nal exam. Homework assignments will consist of problems similar to those that you will encounter on the exams. While you should tackle the assigned problems rst on your own, you are encouraged to discuss them with your fellow classmates. Moreover, students can form groups at most of three people to solve problems. Every group can handle one copy of the homework assignment. Solutions to the homework assignments will be graded. Selected solutions will be presented during the seminars. The nal exam will cover material of the entire course. The course grade will depend on the
homework and exam scores:
Homework assignments: up to 30%
Final exam: at least 70%.

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