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  • ECON4200

ECON4200 - Microeconomics and game theory

Course content

• Production and consumer theory based on duality theory
• Some partial equilibrium analysis
• Some theory for decisions under uncertainty
• Game theory, including theory and concepts for non-cooperative games in the normal and extensive forms, including games of incomplete information

Learning outcomes

Knowledge outcomes:
In the first part of the course students are expected to become familiar with the basic results in production and consumer theory, and learn how these results can be derived using duality theory. This part also exposes them to the theory of uncertainty, including the axioms of the expected utility theorem. In the second part of the course students are expected to learn the basic concepts and results of non-cooperative game theory. This part provides an overview of different form of non-cooperative games — both games in the normal and extensive forms and with and without complete information — and presents solution (both equilibrium and non-equilibrium) concepts for each of these classes of games.

Skills:
The students should be able to do basic microeconomic analysis based on techniques from duality theory, including deriving the main results in production and consumer theory. In the theory of uncertainty they should understand the concept of risk aversion as well as the difference between risk and uncertainty. The students should be able to formulate and solve simple economic problems involving consumers and producers and the interaction between them. The students should be able to formulate economic problems that involve strategic interaction as non-cooperative games, and should be able to use the appropriate solution concepts in such games.

Admission

Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in StudentWeb.

Students enrolled in other Master's Degree Programmes can, on application, be admitted to the course if this is cleared by their own study programme.

International applicants, if you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures for international applicants.

The examination in this course is not available for external candidates. Only students admitted to the course may sit for the examination.

Prerequisites

Formal prerequisites

Bachelor’s degree in Economics, or equivalent. Students must have completed ECON2200 - Mathematics 1/Microeconomics 1 or MAT1100 - Calculus and MAT1700 - Introduction to micro and macro economics in order to attend this course.

Overlap

5 credits against ECON4215 - Microeconomics. 5 credits against ECON3215 - Microeconomics. 5 credits against ECON4230 - Microeconomic Theory. 5 credits against ECON4235 - Microeconomic Theory. 10 credits against ECON3200 - Microeconomics and game theory.

Teaching

Teaching takes place throughout the semester.

Criteria for access to teaching resources

A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, contingent on available capacity.

Exam information

Exam resources

No special exam resources are allowed.

Language of examination

The problem set will be given in English. Answers can be given in Norwegian, Swedish, Danish or in English. See § 6.4 i Forskrift om studier og eksamener ved Universitetet i Oslo

Assessment and grading

Course grades are awarded on a descending scale using alphabetic grades from A to E for passes and F for fail. Read more about the grading system .

Explanations and appeals

Students can request an explanation of their grades, and can also appeal against their grades or make a complaint about formal examination errors. Read more about explanations and appeals

Possibility of make-up exams and re-takes

The Department of Economics has passed following resolution for ECON-courses: It will no longer be possible for candidates to register for an exam in a lower level course after having passed exams in intermediate and advanced level courses in the same subject area (also where there are no pre-requisites that apply to the intermediate course). Further information can be found here.

Students who might wish to retake the exam later, are not guaranteed that the course is ever repeated with a similar reading list, nor that the exam arrangement will be the same.

You can usually resit an exam, but the conditions depend on whether you had a valid reason for absence from the regular exam. Read more about resitting an exam .

Withdrawing from exams and limits on re-takes

A student can sit for this exam up to 3 times. If a student wishes to withdraw from the exam, s/he must do this in StudentWeb at least two weeks prior to the first day of the exam. Failure to do so will be counted as one of the three opportunities to sit for the exam.

Exam options for students with special needs

Students may apply for access to alternative exam resources or exam forms on the basis of chronic illness and/or special needs that create a marked disadvantage to other students in the exam situation. Mothers who are breastfeeding may apply for extra time to complete the exam.

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