Advanced Microeconomic Theory

Course Title: Microeconomics I

Course Facilitators: 

• Torben Mideksa: torben.mideksa@nek.uu.se

• Mona Dapfer: mona.dapfer@nek.uu.se

Office hours: by appointment

Course Description. This course offers a formal treatment of the classical microeconomic theory: individual decision theory, the theory of competitive equilibrium, and an examination of some market failures. 

Intended Learning Outcomes. In this course, you will learn the fundamental methods and theories of microeconomics, the basic tools and concepts required to understand scientific papers at the research frontier of microeconomic theory. Whereas the course cannot bring you to the frontier of all topics within microeconomic theory, it will allow you to equip yourself with sufficient knowledge to read papers on the frontier and thus be able to acquire knowledge of the frontier of most areas in microeconomics. Besides, understanding microeconomics is essential to specialize in fields such as labor, macro, public, political, health, and environmental economics.

Textbook: Mas-Colell, A., Whinston, M. D., and Green, J. R., Microeconomic Theory, OUP, 1995 [MWG]. Some of you might find the supporting Lecture Notes  by Nolan Miller useful.

Teaching Plan.

• Part I -- Theory of Individual Decision Making: Chapters 1, 2, 3, 4, & 5.

• Part II -- Theory of Equilibrium: Chapters 10, 15, 16, 17, & 20.

• Part III -- Theory of Market Failures:  Chapters  11 and 12.

Lectures. An attempt shall be made to post lecture slides before the lecture. However, the *final* file of slides will be posted after the lecture, potentially after correcting typos, unclear steps, etc.

Plan for Seminar Sessions.  The teaching facilitator will go through some of the MWG book's end-of-chapter problems during the "Räknestuga" sessions. The MWG book has three types of end-of-chapter problems (level A, level B, and level C). Students taking this course are expected to handle level A and B problems. 

Assessment.  The course will be assessed via four hand-in assignments, each having 2.5points towards a total of 10 points, and a written final exam having a total of 90 points.  

Hand-in assignment  Release date Submission Deadline

First 29 September 10 October

Second 23 October 31 October

Third 14 November 21 November

Fourth 1 December 2 December

The hurdle score to earn a Pass is 50 points (and for the unofficial Pass with Distinction, 85 points) out of 100 points. In January, dates for retakes are decided based on necessity.