EC487     
Advanced Microeconomics

This information is for the 2017/18 session.

Teacher responsible

Prof Leonardo Felli 32L.4.02

Professor Erik Eyster 32L.4.29

Availability

This course is compulsory on the MSc in Econometrics and Mathematical Economics. This course is available on the MSc in Applicable Mathematics, MSc in Economics and MSc in Economics (2 Year Programme). This course is available with permission as an outside option to students on other programmes where regulations permit.

Students on other programmes must get permission from the course conveners to take this course. 

Pre-requisites

Students must have completed Introductory Course for MSc EME (EC451).

Course content

The aim of this course is to: (i) introduce and develop the analytical tools of graduate level Microeconomics with a special emphasis on mathematical models; (ii) provide the students with a firm grounding in classical Microeconomic Theory as well as its modern development. Topics include: Consumer theory, producer theory, general equilibrium, welfare, choice under uncertainty, game theory, oligopoly, economics of information, topics in mechanism design, topics in behavioural economics.

Teaching

20 hours of lectures and 10 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT.

Formative coursework

Problem sets will be discussed in class and two marked assignments will be given in MT and LT.

Indicative reading

The main texts are A Rubinstein Lecture Notes in Economic Theory, Princeton University Press (with the most up-to-date version available for free download from the author's website) and Mas-Colell, Whinston & Green, Microeconomic Theory, OUP. Other sources include: D M Kreps, Microeconomic Foundations I: Choice and Competitive Markets, Princeton University Press; Fudenberg and Tirole, Game Theory, MIT Press.

Assessment

Exam (50%, duration: 2 hours) in the LT week 0.
Exam (50%, duration: 2 hours) in the main exam period.

Note that EC451 material will be covered on the exam.

Key facts

Department: Economics

Total students 2016/17: 29

Average class size 2016/17: 14

Controlled access 2016/17: Yes

Value: One Unit

Guidelines for interpreting course guide information

Course survey results

(2013/14 - 2015/16 combined)

1 = "best" score, 5 = "worst" score

The scores below are average responses.

Response rate: 77%

Question

Average
response

Reading list (Q2.1)

2.3

Materials (Q2.3)

2

Course satisfied (Q2.4)

1.9

Lectures (Q2.5)

1.9

Integration (Q2.6)

1.9

Contact (Q2.7)

2.2

Feedback (Q2.8)

2.3

Recommend (Q2.9)

Yes

61%

Maybe

38%

No

1%