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L14016 Advanced Microeconomic Theory

Module description & content | Aims & objectives | Module downloads | Lectures & tutorials | Assessment | Module texts

Credits: 15

Lecturers

Dr Alex Possajennikov

t: +44 (0)115 95 15461

e: alex.possajennikov@nottingham.ac.uk

 

Module description and content

This module builds upon basic microeconomic principles and examines central theoretical aspects from modern microeconomic theory, paying particular emphasis on game theoretical approaches to organization and behavior in markets and in firms.

Topics covered in the module may include:

• Auctions
  Types of auctions; revenue equivalence; common value
• Matching
  One-sided and two-sided matching; stable matchings
• Bargaining
  Alternating-offer model; outside options
• Voting
  Measures of voting power; bargaining and voting
• Contract theory
  Optimal contracts; Hidden information; Hidden action; Incomplete contracts
• Evolutionary games
  Evolutionary stability; replicator dynamics; evolution of cooperation

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Aims and objectives

 This module aims to provide students with:

(a) a solid theoretical background in advanced microeconomic theory; and

(b) the knowledge and tools that will allow them to carry out their own original research in this area.

Learning Outcomes:

On completing this module, the learning outcomes are such that students will be able to:

Knowledge and Understanding

• A1 Demonstrate a broad and deep knowledge of advanced core areas of economics
• A5 Demonstrate a deeper understanding of issues within microeconomic theory.

Intellectual Skills

• B3 Reason logically and work analytically.

Professional/Practical Skills

• C2 Select and apply appropriate techniques to solve problems.

Transferable/Key Skills

• D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.

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Module downloads

Lecture slides and other material for this module can be found on WEBCT at http://webct.nottingham.ac.uk/webct/entryPage.dowebct - restricted to registered students only.

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Lectures and tutorials

Economics lecture timetables are available online in the Portal.

There will be ten 2 hour lectures throughout the semester.

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Module Assessment

A 3 hour examination assessed at the end of the semester.

Previous Examination Papers and Feedback for all modules can be viewed online in the Portal but is restricted to registered students only. A password may be required to access this material. Note: The content of the module has changed in 2008-2009.

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Module Texts

There is no textbook that covers all topics in sufficient depth. Some reading materials will be indicated during the lectures. The following books can be useful for some parts of the module:

• Wolfstetter, E. (1999) Topics in Microeconomics , Cambridge University Press
• Bolton, P., Dewatripont, M. (2005) Contract Theory , MIT Press
• Laffont, J.-J., Martimort, D. (2001) The Theory of Incentives, Princeton University Press
• Vega-Redondo, F. (2003) Economics and the Theory of Games , Cambridge University Press

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Further Information

If you have any questions regarding this module please feel free to contact the lecturer. At the end of this semester, we would welcome your views on the organisation and content of this module.

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