Advanced Microeconomics II: General Equilibrium and Mechanism Design

lecon2112  2020-2021  Louvain-la-Neuve

Advanced Microeconomics II: General Equilibrium and Mechanism Design
Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
5 credits
30.0 h + 6.0 h
Q2
Teacher(s)
Language
English
Main themes
Building upon the tools of decision and game theory acquired in Advanced Microeconomics I, the course is divided in two main sections. In the first section, General Competittive Analysis is developed both in its positive and normative dimensions. In the second section, the problem of designing efficient allocation mechanisms is studied in a general perspective. Incomplete information and incentives issues are introduced. The design of auctions and public good mechanisms is included.
Aims

At the end of this learning unit, the student is able to :

1 The objective of the course is to provide the basic microeconomic tools to be used in the analysis of problems of resource allocation by economists working in research, in businees or in various organisations. The course adopts both a positive and a normative approach. It includes recent advances of the theory and aims at develop-ing the capacity to apply economic concepts to real-world problems.
 

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
Content
The first part of the course will be devoted to an introduction to game theory (basic concepts of dominant, undominated, rationalizable strategies, Nash, Bayesian Nash and subgame perfect Nash equilibrium) with some applications. The second part will be devoted to topics in social choice theory (the Arrow theorem), bargaining theory and information economics.
Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Lectures and exercises sessions
Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

The grade will be determined by a final written examination
Other information
Like for Advanced Microeconomics I, the textbook is the Mas-Colell Whinston Green 'Microeconomic theory' book.
Online resources
Homeworks for the exercises sessions available on Moodle 
Faculty or entity


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Master [120] in Economics: Econometrics

Master [120] in Economics: General