EC487 One Unit
Advanced Microeconomics
This information is for the 2025/26 session.
Course Convenor
Dr Christopher Sandmann
Dr Paula Ferreira Onuchic
Availability
This course is compulsory on the MSc in Econometrics and Mathematical Economics. This course is available on the MSc in Economics, MSc in Economics (2 Year Programme) and MSc in Mathematics and Computation. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
How to apply: This course is intended for MSc Econometrics and Mathematical Economics students. Any external student must have successfully completed EC451 in September and/or have approval of the Department of Economics.
Deadline for application: Please apply as soon as possible after the opening of course selection for all courses.
For queries contact: Econ.msc@lse.ac.uk
Students on other programmes must get permission from the course conveners to take this course.
Requisites
Pre-requisites:
Students must have completed EC451 before taking this course.
Additional requisites:
EC451 takes place prior to the start of Autumn Term, please contact econ.msc@lse.ac.uk 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.
In Autumn term, topics are likely to include: Games of complete information (zero-sum and supermodular games, rationalizability, correlated equilibrium, equilibrium refinements, Nash + Rubinstein bargaining, repeated games, oligopoly), general equilibrium (existence + uniqueness, welfare theorems, core equivalence, Walrasian bargaining, jungle equilibrium). In winter term, topics are likely to include: games of incomplete information (Bayesian Nash Equilibrium and its refinements, with application to signalling games); topics on mechanism design, contracting, and strategic communication; and social choice theory.
Teaching
1 hours of seminars in the Spring Term.
20 hours of lectures and 9 hours of seminars in the Winter Term.
20 hours of lectures and 9 hours of seminars in the Autumn Term.
This course has a reading week in Week 6 of Autumn and Winter Term.
Formative assessment
Problem sets will be discussed in class and two marked assignments will be given in AT and WT.
Indicative reading
The main texts are:
Osborne and Rubinstein, A Course in Game Theory, The MIT Press,
Mas-Colell, Whinston & Green, Microeconomic Theory, OUP, and,
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).
Other sources include: Fudenberg and Tirole, Game Theory, MIT Press.
Assessment
Exam (40%), duration: 120 Minutes, reading time: 15 minutes in the January exam period
Exam (40%), duration: 120 Minutes, reading time: 15 minutes in the Spring exam period
Problem sets (20%)
Note that EC451 material will be covered on the exam.
This course is IRDAP-enabled, meaning that resit and deferred assessments will take place in August 2026.
Key facts
Department: Economics
Course Study Period: Autumn, Winter and Spring Term
Unit value: One unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 46
Average class size 2024/25: 15
Controlled access 2024/25: YesCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.