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.

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.

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