ECON9207 – Advanced Microeconomics

This is an advanced course in microeconomic theory. The course covers the main topics of microeconomics from consumer and producer behavior, partial and general equilibrium, behavior under uncertainty, game theory and asymmetric information.

Part I

Preferences and choice:

• Utility representation of preferences
• Expected utility theory

Game theory:

• Static games with complete information
• Static games with incomplete information
• Dynamic games with complete information
• Dynamic games with incomplete information

Part II

• Choice and revealed preferences
• Consumer theory and duality
• Partial equilibrium analysis and consumer and producer surplus
• General equilibrium with and without production
• Welfare economics
• Selected topic at the instructor’s discretion

Knowledge outcomes

You will learn the fundamental methods and theories of microeconomics, and be provided with the basic tools and concepts required to understand scientific papers at the research frontier of microeconomic theory. The course cannot bring you to the frontier of all topics within microeconomic theory, but will give you sufficient knowledge to read papers on the frontier and thus be able to acquire knowledge of the frontier of most areas in microeconomics.

Skills

The student should be able to read and understand scientific papers representing the research frontier of microeconomic theory.

• ECON3220 – Microeconomics 3 / ECON4220 – Microeconomics 3 or equivalent.
• Or the following discontinued courses: ECON3200 – Microeconomics and Game Theory (discontinued) / ECON4200 – Microeconomics and Game Theory (discontinued), ECON4215 – Microeconomics (discontinued), ECON4230 – Microeconomic Theory (discontinued) , ECON4235 – Microeconomic Theory (discontinued).

Lectures.

Access to teaching

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, depending on available capacity.

The course responsible can at the beginning of the semester update the syllabus list by changing no more than 3 articles, though in a way that it will not change the overall scope or thematic content of the course.

The syllabus also includes any lecture notes that will be made available for the students in Canvas

If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.

There are restrictions on resitting this exam. See further information about resitting an exam.

Students who wish to retake the exam in a later semester are not guaranteed that the course will be given with the same content and syllabus, or that the examination scheme will be the same.