ECH-32306 Advanced Microeconomics

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

ECH-21806 or AEP-20306 or equivalent courses

Contents:

This is an advanced course which is part of the Research Master Variant in the MSc programs MID and MME.
It is an advanced course in microeconomics. Microeconomic theory focuses on the behaviour of individual agents and builds from this foundation a theory of aggregate economic outcomes. Topics are individual decision making, (e.g. consumer theory, producer theory, and the role of uncertainties), market equilibrium and market failure (e.g. market power, externalities and principal agent problem), general equilibrium, welfare economics, game theory (e.g. non-cooperative and cooperative games, the role of information and rationality and incentives).
Students obtain a firm background in microeconomic theory and they learn to apply theory to agricultural and environmental issues, households' behaviour and firms' decision-making.

Learning outcomes:

At the end of this course the student is able to:
- acquire knowledge of microeconomics at an advanced level;
- solve problems and interpret the results;
- understand microeconomic phenomena using microeconomic theory.

Activities:

Lectures - attending lectures and studying book and hand-outs;
- doing exercises.

Examination:

- graded excercises; - final written exam.

Literature:

Jehle, Geoffrey A. / Reny, Philip J. (2002) Advanced Microeconomic Theory. Second edition, Reading, Mass.: Addison-Wesley.