This website provides information about the course, as well as materials and references useful to prepare it.
DESCRIPTION: This course studies market equilibrium and market failure, and provides an introduction to methods for dealing with individuals' incentives in the design of contracts and social institutions.
INSTRUCTOR: Diego Moreno
Michelangelo Rossi (firstname.lastname@example.org).
Recitation Sessions: Feb. 22 (19:30-21), March 8 (17:45-19:15) and 22 (17:45-19:15), April 19 (17:45-19:15), and May 3 (19:30-21) and 24 (19:30-21).
A. Mas-Colell, M. Whiston and J. Green: Microeconomic Theory, Oxford UP 1995.
I. Macho and D. Perez-Castrillo: An Introduction to the Economics of Information, Oxford UP 2001.
1. Time, Uncertainty and Risk in Competitive Economies. (Mas-Colell et al., chapters 19 and 20.)
2. Market Failure: externalities, public goods, market power, asymmetric information. (Mas-Colell et al., chapters 10-13.)
3. Incentives and Social Welfare: Mechanism Design. (Mas-Colell et al., chapters 21 and 23.)
4. Introduction to the Economics of Information. (Macho and Perez-Castrillo, chapters 2 to 5.)
GRADING: There will a midterm exam on March 22 (17:45), and a comprehensive final exam on June 2.
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