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Kies de Nederlandse taal
Course module: UCSSCECO22
UCSSCECO22
Microeconomics, behavioral economics and game theory
Course info
Course codeUCSSCECO22
EC7.5
Course goals
After completing this course students are able to:
  • analyze microeconomic decisions and gain insight into modern microeconomic concepts.
  • discuss current microeconomic issues and describe the background of current controversies about these issues.
  • understand, explain and apply concepts and methods from game theory and behavioural economics
Content
In this course we will look at three ways of analysing economic situations at micro-level. In the first part we will continue with the microeconomic concepts we dealt with in UCSSCECO11 Introduction to Economics at a more advanced level. Familiar concepts will be discussed in more depth and in a more mathematical way while new concepts such as the Slutsky equation, compensating and equivalent variation will be introduced.
In the second part of the course we will look at game theory, the study of multi-person decision problems. Game theory is a technique used to analyse situations where for two or more individuals, or institutions, the outcome of an action by one of them depends not only on the action of that individual but also on the actions of others.
In the third part we will look at a relatively new field in economics: behavioural economics which adds insights of the field of psychology to the traditional economic rational-choice and equilibrium models.

 
Format
The class meets twice a week for 1h 45m. Active participation is required. The set-up of each class will differ depending on the topic and day.
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Kies de Nederlandse taal