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
  • 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

Contents

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.

Learning outcomes

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.
 

Attendance requirements

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.

Teaching/learning method(s)

  • 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.

Assessment

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.

Availability of lecturer(s)

e-mail: ulrich.berger@wu.ac.at

phone: 01/31336-4562

Last edited: 2019-02-28



Back