Course content

This course is equivalent with?ECON3220 - Microeconomics 3?

  • General equilibrium with state-dependent goods
  • Incomplete markets and decisions under uncertainty
  • Games of incomplete information
  • Economics of information

Learning outcome

Knowledge

You should know

  • the theory of choice under uncertainty, including the expected utility theorem
  • different form of non-cooperative games — both with and without complete information — and solution (both equilibrium and non-equilibrium) concepts for each of these classes of games
  • the implication of moral hazard problems and adverse selection

Skills

You should be able to

  • understand basic concept of decision theory
  • formulate economic problems that involve strategic interaction as non-cooperative games
  • use the appropriate solution concepts in such games
  • formulate economic problems that involve asymmetric information

Competence

You should be able to

  • follow economic reasoning related to the course, for instance when reading professional reports

Admission to the course

Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunns?konomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.

Formal prerequisite knowledge

You must fulfill one of these prerequisites:

Alternatively

Overlapping courses

Teaching

Lectures and seminars.

Compulsory tuition activities:

  • A compulsory term paper.

The assignment deadline will be specified in Canvas. If you submit your answer to the assignment, but do not pass, you may get another attempt. The new attempt will have a short deadline.

When the compulsory term paper is approved, the result will be registered. The?approved compulsory term paper is valid for 9 semesters, starting with the semester in which it is passed.

See The Faculty of Social Sciences` rules regarding compulsory tuition activities.

Candidates who have passed the course before autumn 2