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Microeconomics & Game Theory

  • Teacher(s):   C.Thoeni  
  • English title: Microéconomie & théorie des jeux
  • Course given in: English
  • ECTS Credits: 6 credits
  • Schedule: Autumn Semester 2019-2020, 4.0h. course (weekly average)
  •  sessions
  • Related programme: Master of Law (MLaw) in Law and Economics

 

Objectives

This course provides an introduction to microeconomics, game theory, and industrial organization. Economics is a social science, offering a coherent theory with the aim to explain human behavior. Students learn to `think like an economist' and to apply the theory to real world problems. The course contains both a graphical and intuitive approach and introduces the students to the basic analytical tools necessary to solve microeconomics optimization problems.

Contents

The course will cover the following topics

• Microeconomics

– Consumer behavior
– Firm behavior
– Supply and demand in competitive markets
– Welfare theorems
– Externalities

• Game theory

– Strategic interaction
– Normal form games
– Extensive form games
– Repeated games
– Solution concepts

• Industrial organization

– Imperfect competition, monopoly, oligopoly
– Price discrimination
– Cartel formation

References

• Frank, R. H. & Cartwright, E. (2016). Microeconomics and Behavior. McGraw-Hill.
• Slides and problem sets
• Further readings will be announced in class

Evaluation

First attempt

Exam:
Written 2h00 hours
Documentation:
Not allowed
Calculator:
Allowed with restrictions
Evaluation:

Students are required to hand in and present problem sets in class. Grading depends on problem sets and final exam, 2h, closed book. [ 4 function calculator according to HEC directive]

Retake

Exam:
Written 2h00 hours
Documentation:
Not allowed
Calculator:
Allowed with restrictions
Evaluation:


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