ECH-32306 Advanced Microeconomics

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

ECH-21806 Microeconomics or AEP-20306 Economics of Agribusiness or equivalent courses.

Contents:

This is an advanced course which is part of the Research Master Variant in the MSc programs MID and MME.
Microeconomic theory focuses on the behaviour of individual agents. 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 games, the role of information and rationality and incentives).
Students obtain a firm background in microeconomic theory and they learn to apply theory.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- assess advanced contributions in the fields of duality theory, general equilibrium theory, (non-cooperative) game theory and information economics;
- judge the formal correctness of various micro-economic models;
- design micro-economic models for various real-world problems.

Activities:

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

Examination:

- group or individual assignments (30%);
- written exam with open questions (70%).

Literature:

Jehle, Geoffrey A.; Reny, Philip J. (2002). Advanced Microeconomic Theory. 3ed. Reading, Mass.: Addison-Wesley.