| Day | Date | Time | Room |
|---|---|---|---|
| Tuesday | 05/09/23 | 02:00 PM - 05:00 PM | D4.0.019 |
| Tuesday | 05/16/23 | 02:00 PM - 05:00 PM | D4.0.019 |
| Tuesday | 05/23/23 | 02:00 PM - 05:00 PM | D4.0.019 |
| Tuesday | 05/30/23 | 02:00 PM - 05:30 PM | D4.0.019 |
| Tuesday | 06/06/23 | 02:00 PM - 05:00 PM | D4.0.019 |
| Tuesday | 06/13/23 | 02:00 PM - 05:30 PM | D4.0.019 |
| Tuesday | 06/27/23 | 02:00 PM - 05:30 PM | D4.0.022 |
Advanced Microeconomics II continues Advanced Microeconomics I. It is an advanced course that teaches selected fundamental topics in microeconomics in more detail. The course starts with mechanism design, using a public goods game and auctions as primary examples. After introducing the Vickrey-Clarke-Groves mechanism we turn to second-best mechanisms and apply these to public goods and bilateral markets. Finally, we study double auctions and matching markets.
1. public goods
2. the VCG mechanism
3. balanced budgets
4. second-best mechanisms
5. bilateral trade
6. Myerson-Satterthwaite theorem
7. small markets
8. double auctions
9. bipartite graphs
10. matching markets
After attending this course, students will be able to:
The attendance requirement is met, if a student is present at least 80%. Therefore, students are allowed to be absent for one teaching unit.
Advanced Microeconomics II is the continuation of Advanced Microeconomics I. It is formally possible to only complete the second course (e.g. for exchange students who need just 4 ECTS), but it would be rather difficult and doesn't make much sense.
Slides and exercises will be uploaded on Canvas. Students are requested to prepare for each class with the provided material.
There will be several homeworks (weight 30%) and a written final exam (60%). The remaining 10% can be gained by active participation, i.e. by answering questions raised during the course or contributing to the discussion thoughtfully.
Please log in with your WU account to use all functionalities of read!t. For off-campus access to our licensed electronic resources, remember to activate your VPN connection connection. In case you encounter any technical problems or have questions regarding read!t, please feel free to contact the library at readinglists@wu.ac.at.
Students should have a good knowledge of introductory microeconomics and game theory, and they should have completed Advanced Microeconomics I. The most important requirement, however, is the willingness to engage with formal (axiomatic) reasoning and proofs.