The purpose of this course is to endow you with the understanding of the analytical tools of microeconomics - consumer choice; theory of the firm; game theory; general equilibrium; choice under uncertainty; market failures; and behavioural economics - at an intermediate level. We will revisit the standard tools - theory and models - you have learnt in previous microeconomics courses, this time aiming at a deeper understanding and the development of your critical mind. We complement the learning process with some of the existing empirical research that tests the theory or provides additional insights.
Ana Fontoura Gouveia
Weekly - Available soon
Total - Available soon
Selected chapters from these microeconomic references (clearly identified in the instructor’s slides):
Main book: Austan Goolsbee, Steven Levitt & Chad Syverson, Microeconomics, 2013, Worth/MacMillan.
More advanced (for those interested in technique and a research career): Andreu Mas- Colell, Jerry R. Green & Michael D. Whinston , Microeconomic Theory, 1995, Oxford University Press; or Hal Varian, Microeconomic Analysis, 3rd, 1992, Norton.
The chapters will be supplemented with relevant articles and applications.
We shall meet three hours per week for 12 weeks. Classes are devoted to the presentation of the material by the instructor and to the active discussion of policy topics by the students. Readings and assignments complement students’ learning.
• Two take-home problem sets (15% each):
• Groups of max. 3 students
• Due dates: 7 Oct. & 18 Nov. (posted online one week earlier)
• Midterm (30%)
• 19 Oct. 9am (90 minutes)
• Final exam (40%)
• minimum grade 8/20
• 12 Dec. 19h (90 minutes)
We will cover the following topics:
• Supply and demand. Consumer theory. Theory of the firm.
• Basics of Game theory, Nash and subgame-perfect equilibrium. Monopoly, Duopoly. Repeated games.
• General equilibrium: exchange, production. Externalities and public goods.
• Choice under uncertainty. Moral Hazard and Adverse Selection.
• Behavioural economics
Programs where the course is taught: