Course overview
This course introduces key advanced methods and theories of contemporary microeconomics. Topics may include the economic behaviour of individual units, in particular consumers and firms; expected utility and uncertainty; welfare economics; information economics; and auction theory.
Course learning outcomes
- Possess a solid grasp of the mathematics of constrained optimisation (especially Lagrange's method) and know how to apply it to solve microeconomic problems
- derive the central results about decision-making by consumers and firms from first principles
- develop a thorough understanding of the expected utility model, and become familiar with its uses in economic analysis
- become familiar with the fundamentals of welfare analysis
- acquire a basic toolkit from game theory; develop skills in the translation of economic problems into game-theoretic notation; be able to select an appropriate solution concept; and be able to compute equilibrium strategies