Advanced Microeconomics is an advanced course that teaches selected fundamental topics in microeconomics in more detail. The course starts with an introduction to relations and preference relations, leading to a model of decision-making under risk. It then turns to welfare economics and studies social welfare functions, continuing with utilitarianism and Pareto efficiency. We consider the problem of mechanism design, using a public goods game and auctions as an example. After introducing the Vickrey-Clarke-Groves mechanism, we turn to second-best mechanisms and finally to market mechanisms.
Syllabus
Title
4787 Advanced Microeconomics
Instructors
Univ.Prof. Dr.Dr. Ulrich Berger
Contact details
Tel. +43 1 31336-4562, E-Mail: ulrich.berger@wu.ac.at
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Type
PI -
Weekly hours
3 -
Language of instruction
Englisch
Registration
02/07/19 to 02/17/19
Registration via LPIS
Notes to the course
The subject "Advanced Microeconomics" (MaVW 10) will be held in the summer semester 2019 for the last time!
Subject(s) Master Programs
Dates
Day | Date | Time | Room |
---|---|---|---|
Tuesday | 03/05/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 03/12/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 03/19/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 03/26/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 04/02/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 04/09/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 05/07/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 05/14/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 05/21/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 05/28/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 06/04/19 | 10:00 AM - 01:00 PM | TC.5.16 |
Tuesday | 06/18/19 | 10:00 AM - 01:00 PM | TC.5.16 |
After attending this course, students will be able to:
- understand the reasons for the widespread assumption of expected utility maximization.
- explain the theoretical basics of welfare comparisons and their limits.
- understand the source of inefficiencies arising under incomplete information.
- construct efficient mechanisms to handle social choice problems.
- explain how large markets may eliminate inefficiencies.
The attendance requirement is met, if a student is present at least 80%. Therefore, students are allowed to be absent for up to two classes.
- Lectures with material developed on the whiteboard and supported by slides
- Discussion of examples
Slides and exercises will be uploaded on learn@wu. Students are requested to prepare for each class with the provided material.
There will be a written mid-term exam and a written final exam, each with a weight of 45%. The remaining 10% can be gained by active participation, i.e. by answering questions raised during the course or contributing to the discussion thoughtfully. A retake of one of the written exams will also be offered for those not reaching 50% in total.
e-mail: ulrich.berger@wu.ac.at
phone: 01/31336-4562
Last edited: 2019-02-28
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