Masters in Economics: Microeconomics II


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
(diego.moreno@uc3m.es; office: 15.2.45; office hours: Tuesdays, 2-4 pm.)

TA: Michelangelo Rossi
(mrossi@eco.uc3m.es; office: 15.2.40; office hours: Mondays 9-11 am, Thursdays 6-7 pm.)

Recitation Sessions: Feb. 22 (19:30-21), March 22 (17:45-21:00), April 19 (17:45-19:15), May 3 (19:30-21), and May 24 (19:30-21).

TEXTBOOKS
R. Serrano and M. Feldman: A Short Course in Intermediate Microeconomics with Calculus, Cambridge UP. (SF)
I. Macho and D. Perez-Castrillo: An Introduction to the Economics of Information, Oxford UP 2001. (MP)

    OTHER REFERENCES
    A. Mas-Colell, M. Whiston and J. Green: Microeconomic Theory, Oxford UP 1995. (MWG)
    G. Jehle and P. Reny: Advanced Microeconomic Theory, Pearson 2011. (JR)
    R. Gibbons: A premier in Game Theory, Prentice Hall 1992. (G)


PROGRAM
1. Time and Uncertainty in Competitive Economies. (SF 15-17, MWG 19-20, JR 5)
2. Market Failure: externalities, public goods, market power, asymmetric information. (SF 17-18,  JR 9, MWG 10-13)
3. Introduction to the Economics of Information. (MP 2-5)

GRADING: There will a midterm exam (on April 5, 17:45-20:15), and a comprehensive final exam on June 2.

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