Advanced Microeconomics

Catalog description

Building on the foundations laid down in courses in Microeconomics at the intermediate level, this course provides a thorough treatment of some more advanced questions. The course starts with a careful study of the functioning of markets, culminating with the first and second theorem of welfare economics. The next topics cover an introduction to strategic behavior and game theory, and subsequently a study of market failures under adverse selection and moral hazard. This course involves a more formal analysis than that used in Intermediate Microeconomics. The course is mathematical, and at times proof-oriented. Students should be familiar and comfortable with multivariable calculus and basic linear algebra.