Microeconomics for MRes students

This information is for the 2021/22 session.

Teacher responsible

Prof Michele Piccione 32L.4.07 and Prof Balazs Szentes 32L.4.05


This course is compulsory on the MRes/PhD in Economics and MRes/PhD in Finance. This course is not available as an outside option.


A good undergraduate knowledge of economic theory and calculus is required.

Course content

The aim of the course is to:

i.    introduce the basic analytical tools that are necessary to conduct theoretical research in many fields in economics.

ii.   give the students a full understanding of the classic Microeconomic Theory and of the modern developments of Microeconomic Theory

iii.  enable students to address a microeconomic problem by structuring it as a mathematical model and enhance the understanding of economic issues though the use of mathematical tools.

Topics include:  Consumer theory, producer theory, general equilibrium, welfare, choice under uncertainty, game theory, economics of information, agency theory, contracts, topics in mechanism design.


30 hours of lectures and 15 hours of classes in the MT. 30 hours of lectures and 15 hours of classes in the LT.

This course is delivered through a combination of classes and lectures totalling a minimum of 30 hours across Michaelmas Term and Lent Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos. Attendance at lectures and classes is compulsory.

Formative coursework

Compulsory exercises are set for each class.

Indicative reading

The main text is Mas-Collel, Whinston & Green, Microeconomic Theory, OUP.

Other sources include:

D Fudenberg & J Tirole, Game Theory, MIT Press; D M Kreps, A Course in Microeconomic Theory, Harvester Wheatsheaf; H R Varian, Microeconomic Analysis (3rd edn), Norton; M J Osbourne & A Rubinstein, A Course in Game Theory, MIT Press; G A Jehle & P J Reny, Advanced Microeconomic Theory, Longman.


Online exam (100%, 4 hours 15 minutes) in the ST

Course selection videos

Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.

Important information in response to COVID-19

Please note that during 2021/22 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 differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching 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 2020/21: 40

Average class size 2020/21: 16

Controlled access 2020/21: Yes

Value: One Unit

Guidelines for interpreting course guide information