The first part of the course deals with individual decision making and basic game theory. Fundamental topics covered include utility maximisation, expenditure minimisation, duality, welfare changes, and decision making under uncertainty. Producer theory and market equilibrium may also be discussed, along with an introduction to basic game theory which is an essential tool to analyse strategic behaviour.
The second part of the course builds on the first by exploring economic environments with asymmetric information (asymmetric information, signalling and screening), as well as other topics in contract theory such as principal-agent problems and incomplete contracts.
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