Advanced Microeconomics

This information is for the 2020/21 session.

Teacher responsible

Dr. Rafayal Ahmed and Prof. Balazs Szentes


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. 


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

EC451 takes place prior to the start of Michaelmas Term, please contact for more information.

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.


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

This year, at least for MT, some of this teaching may have to be delivered through a combination of virtual webinars, online videos, and virtual classes.

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.


Exam (40%, duration: 2 hours) in the January exam period.
Exam (40%, duration: 2 hours) in the summer exam period.
Problem sets (20%) in the MT and LT.

Note that EC451 material will be covered on the exam.

Important information in response to COVID-19

Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: Economics

Total students 2019/20: 52

Average class size 2019/20: 17

Controlled access 2019/20: Yes

Value: One Unit

Guidelines for interpreting course guide information