The objective is to present the basic concepts of microeconomics, to discuss them at an advanced level and to give students an understanding of how economic modeling proceeds.
- Choice theory and introduction to welfare economics
- Consumer theory
- Producer theory, comparative statics, comparative advantage
- Choice under uncertainty (expected utility, risk aversion)
- General equilibrium, fundamental welfare theorems
- Asset markets and asset pricing
- No trade theorem, rational expectations.
Textbooks. There is no mandatory textbook for this course. The following books are an excellent complementary reading, and a good investment if you plan to do more economics.
- "Microeconomic Theory" by Mas-Colell, Whinston and Green.
- "Advanced Microeconomic Theory" by Jehle and Reny.
- "Microeconomic Foundations I: Choice and Competitive Markets" by Kreps.