Course teacher(s)
Luca Paolo Merlino (Coordinator)ECTS credits
5
Language(s) of instruction
english
Course content
see my web page at http://plegros.net/content/micro2
We will analyze environments in which some of the main assumptions underlying the two welfare theorems of general equilibrium are not satisfied: mainly information asymmetries and externalities. The purpose is to introduce and apply concepts or tools from information economics, decision under uncertainty, contract theory and mechanism.
Objectives (and/or specific learning outcomes)
At the end of the course, the students will be able to :
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Chose the appropriate tools to engage in applied or more fundamental work in microeconomics and its applications.
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Analyze environments in which some of the main assumptions underlying
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Understand by modeling an issue what would be the effects
Teaching methods and learning activities
Lectures
Contribution to the teaching profile
The course contributes to the developments of the following skills :
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Use data mining and management techniques as well as financial modeling to develop decision, evaluation or management tools
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Comprehensively assess potential solutions using economic, financial and other criteria as relevant to the situation at hand.
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Solve complex problems arising in economic, financial and public policy contexts to transfer knowledge in realistic solutions to operationalize solutions.
References, bibliography, and recommended reading
[M] MasColell, Andreu, Whinston, Michael and Green, Jerry (1995). Microeconomic Theory, Oxford University Press. [F] Fudenberg, Drew and Tirole, Jean (1993) Game Theory, MIT Press. [L] Laffont, Jean-Jacques (1995). The Economics of Uncertainty and Information, The MIT Press. [H] Harris, Milton (1987). Dynamic Economic Analysis, Oxford University Press. see also the web page of the course at www.plegros.net for more documentation; in particular slides for the lectures will be available for download to registered students.
Other information
Contacts
plegros@ulb.ac.be
Evaluation
Method(s) of evaluation
- Other
Other
problems sets, mid-term exam and a final written exam.
Mark calculation method (including weighting of intermediary marks)
final written exam : 50%
mid-term exam : 40%
continuous assessments : 10%
Language(s) of evaluation
- english