NMAB20004U Microeconomics 2: Market Imperfections (MikØk2)
Bacheloruddannelsen i matematik-økonomi
This course treats non-cooperative game theory, auctions, externalities and public goods, as well as asymmetric information including adverse selection and moral hazard.
Knowledge: The course presents microeconomic theory of markets with imperfections. Non-cooperative game theory is introduced and applied to the analysis of imperfect markets. The course covers models exhibiting asymmetric information and externalities. The applications include auctions, bargaining, moral hazard, and public goods. Ideas from behavioural economics and knowledge of economic experiments are presented along with the more classical game theory.
Skills: Solving non-cooperative games, and models with imperfect markets. Deriving these models' predictions. Applying game-theoretic arguments. Solving models of auctions.
Competences: Applying game-theoretic analysis and economic arguments in the face of strategic decisions. Applying the models to predict behaviour and outcomes of strategic situations.
Varian, H. R. (2014). Intermediate Microeconomics: A Modern Approach: Ninth International Student Edition. WW Norton & Company.
Jehle, G. A., & Reny, P. J. (2011). Advanced Microeconomic Theory (Third). Essex: Pearson Education Limited.
- Theory exercises
- 7,5 ECTS
- Type of assessment
- Written examination, 3 hours under invigilationWritten exam
The course has been selected for ITX exam
- Exam registration requirements
Two mandatory assignments must be handed in and approved.
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
30 minutes oral examination with 30 minutes for preparation. Written notes are allowed during the preparation time. At the examination, it is permitted to bring a one-page synopsis. In case the two mandatory assignments were not approved before the regular exam, the non-approved assignment(s) must be resubmitted for approval at the latest three weeks before the start of the exam week.
Criteria for exam assesment
See learning outcome.
- Course code
- 7,5 ECTS
- 1 block
- Block 2
- Course is also available as continuing and professional education
- Study board
- Study Board of Mathematics and Computer Science
- Department of Mathematical Sciences
- Faculty of Science
- Robert Mahlstedt (16-5572656875773150646b6f76776867774368667271316e7831676e)