Course 2010-2011 a.y.

Go to class group/s: 31

CLMG (6 credits - II sem. - OP  |  SECS-P/01) - M (6 credits - II sem. - OP  |  SECS-P/01) - IM (6 credits - II sem. - OP  |  SECS-P/01) - MM (6 credits - II sem. - OP  |  SECS-P/01) - AFC (6 credits - II sem. - OP  |  SECS-P/01) - CLAPI (6 credits - II sem. - OP  |  SECS-P/01) - CLEFIN-FINANCE (6 credits - II sem. - OP  |  SECS-P/01) - CLELI (6 credits - II sem. - OP  |  SECS-P/01) - ACME (6 credits - II sem. - OP  |  SECS-P/01) - DES-ESS (6 credits - II sem. - OP  |  SECS-P/01) - EMIT (6 credits - II sem. - OP  |  SECS-P/01)

Course Director:
FAUSTO PANUNZI

Course Objectives

This course introduces some advanced topics of Microeconomics and more specifically asymmetric information and general equilibrium. The goal is to provide students with the analytical tools required to read and understand the current economic literature and its debates.

Course Content Summary

• Theory of incentives.
• Adverse selection: the rent extraction-efficiency trade-off.
• Moral hazard: the trade-off between insurance and efficiency.
• Incomplete contracts and the theory of the firm.
• Topics in general equilibrium: general equilibrium with production, the non-substitution theorem.
• Regular economies, uniqueness of equilibrium, stability analysis with and without tâtonnement, comparatives statics analysis, the core of an economy, general equilibrium with time and uncertainty, overlapping generations models.

Detailed Description of Assessment Methods

Written Exam.

Textbooks

• A. MONTESANO, Teaching notes
• J.J. LAFFONT, D. MARTIMONT, The theory of incentives, Princeton University Press, 2002.
• H.R. VARIAN, Microeconomic Analysis, New York, Norton, 1992, 3^a ed.
• A. MAS-COLLEL, M.D. WHINSTON, J.R. GREEN, Microeconomic Theory, New York, Oxford University Press, 1995.

Exam textbooks & Online Articles (check availability at the Library)

Last change 24/06/2010 10:16