LFU:online

The course provides an introduction into modern microeconomic theory. Students will be trained in applications of the standard microeconomic toolkit at an advanced level of mathematical and conceptual rigor.

The topics covered in this course are the axiomatic analysis of individual choice with and without uncertainty, and the computation of equilibria in closed economies. Special emphasis is further given to situations of strategic interaction with incomplete and asymmetrically distributed information. Applications include incentive and insurance theory, financial and labor contracting, and industrial organization.

Presentation and discussion. The proseminar will deal with problem sets that deepen the students' understanding of the key concepts and techniques discussed in the lecture.

Written exam (60 minutes).

Jehle, Geoffrey A., and Philip J. Reny (2011): Advanced Microeconomic Theory, 3rd edition. London: FT Prentice Hall. Further readers and references will be provided throughout the course.

Note that a positive evaluation of the 'proseminar' is a prerequisite for taking the final exam in the course VO Mikrooekonomik (Master).