Scribd
Upload
161 views4 pages

ECON 410: Advanced Microeconomic Theory (20 Points)

This document provides information about the ECON 410: Advanced Microeconomic Theory course offered in Semester 2 of 2020. [1] It will use mathematical tools to analyze advanced microeconomic models. [2] Upon completing the course, students will have a deep understanding of core microeconomic concepts and be able to apply techniques to solve theoretical problems. [3] Assessment will include problem sets and mid-semester tests, with topics covering various areas of microeconomics like consumer theory, producer theory, and general equilibrium.

Uploaded by

Rishi Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
161 views4 pages

ECON 410: Advanced Microeconomic Theory (20 Points)

This document provides information about the ECON 410: Advanced Microeconomic Theory course offered in Semester 2 of 2020. [1] It will use mathematical tools to analyze advanced microeconomic models. [2] Upon completing the course, students will have a deep understanding of core microeconomic concepts and be able to apply techniques to solve theoretical problems. [3] Assessment will include problem sets and mid-semester tests, with topics covering various areas of microeconomics like consumer theory, producer theory, and general equilibrium.

Uploaded by

Rishi Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

DEPARTMENT OF ECONOMICS

ECON 410: Advanced Microeconomic Theory (20 Points)


Semester 2 2020

1. Course Description

This paper uses mathematical tools for advanced analysis of microeconomic models of
consumer choice, production theory, market equilibrium, social choice and welfare, and
other selected topics.

Prerequisites. ECON 377; or (ECON 270 and ECON 371); or consent of the instruc-
tor.

Lectures. Three hours per week: Monday 10:00–11:50am, Wednesday 10:00–10:50am.


It is expected that all class meetings will take place in Co320 unless otherwise noted.

2. Learning Aims and Objectives

Upon successful completion of ECON410, a student should be able to:

(1) Demonstrate a deep understanding of the core areas of advanced microeconomics.

(2) Apply appropriate techniques for solving theoretical problems in advanced mi-
croeconomics and answer questions relating to the behaviour of economic agents.

(3) Explain the relevant techniques and the answers they produce using written Eng-
lish.
3. Course staff

Course Coordinator Ass. Prof. Trent Smith


and Lecturer 526 Otago Business School
e-mail: [email protected]
Office hours: drop in anytime I’m in, or e-mail to set an appointment

Receptionist Donna Cumberbeach


501A Otago Business School
Office hours: 9:00-3:30

If you are missing copies of handouts or other course materials, please see Donna Cum-
berbeach at reception (OBS 501A) or download these from Blackboard.

4. Notices & Blackboard

The Department of Economics is housed on the 5th Floor of the Otago Business School.
Administrative notices and assignments will be posted on Blackboard: http://blackboard.
otago.ac.nz (enter your username & password). Slides will also be posted on Black-
board when available. Blackboard allows us to e-mail the whole class. As such, e-mails
will be sent to your student e-mail address, so it is important that you check your student
e-mail regularly. If you have any difficulties using Blackboard, contact the ITS Library
Helpdesk on 479 8888 or e-mail [email protected].

5. Workload

You should plan to devote 18 hours per week to this course. This is based on the
University’s ‘rule of thumb’ for a 20 point postgraduate Semester course. Three of these
hours are spent in lectures each week–leaving 15 hours per week for your own reading
and study and revision.

6. Assessment

There will be six bi-weekly problem sets to be handed in. One or more problems from
each set, which will be chosen randomly, will be graded. Each graded problem set will
count 5% towards the course grade, giving a 30% overall weight to internal assessment.
Two mid-semester tests will carry weights of 35% each. However, plussage applies in the
following manner: a problem set will count only if you do worse on the average score
from your mid-semester tests, provided that the problem set is handed in. If you have
not handed in a problem set, the zero you scored will always count!
Students are allowed and encouraged to work on problem sets together but must write
up and turn in their own copy to be graded.

2
7. Topics List

A tentative list of topics to be covered is given below. Actual topics covered may
vary.
(1) Partial Equilibrium and Welfare
- Markets in Perfect Competition
- Imperfect Competition: Monopoly
- Imperfect Competition: Oligopoly
- Individual Welfare Measures
(2) Selected topics relating to:
• Imperfect Competition and Strategic Behaviour
• Imperfect Information
• Auction Theory
• Public Goods and/or Taxation
(3) Consumer Theory:
• Preferences and Utility Functions
• Indirect utility and expenditure
• Properties of Consumer Demand
(4) Producer Theory:
• Production and Cost
• Duality in Production
• Competitive Firm Profit Maximisation
(5) General Equilibrium
(6) Social Choice and Welfare:
• Arrow’s Theorem
• Welfare Economics

3
8. Textbooks

The lectures will not closely follow any single textbook, but most of what we cover in
lecture is described in more detail in Advanced Microeconomic Theory by Murat Genç
(2016) and Advanced Microeconomic Theory by Jehle and Reny (2011). Other readings
will be made available in class and via Blackboard as they are assigned.
The following books, which are available on close reserve at the library, are recom-
mended.
(1) Cornes, R., 1992, Duality and Modern Economics, Cambridge University Press
(2) Gravelle, H. & R. Rees, 2004, Microeconomics 3rd ed., Prentice Hall
(3) Jehle, G. A. & P. J. Reny, 2011, Advanced Microeconomic Theory, 3nd ed.,
Addison-Wesley
(4) Mas-Colell, A., M. D. Whinston & J. R. Green, 1995, Microeconomic Theory,
Oxford University Press
(5) Nechbya, T. J. , 2011, Microeconomics: An Intuitive Approach with Calculus
(6) Silberberg, E. & W. Suen, 2001, The Structure of Economics: A Mathematical
Analysis, 3rd ed., McGraw-Hill
(7) Varian, H. R, 1992, Microeconomic Analysis, 3rd ed., Norton

9. A note on Dishonest Practice

Any student found responsible for dishonest practice (for example, copying, the use of
unauthorised material in tests, etc.) in relation to any piece of work submitted for
assessment shall be subject to the University’s dishonest practice regulations and may
result in various penalties, including forfeiture of marks for the piece of work submitted,
a zero grade for the paper, or, in extreme cases, exclusion from the University.

You might also like