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Economics: Microeconomics - Theory for Individual Choice and Game Theory

Programme overview

  • Master level course
  • 7.5 credits
  • Campus
  • Study period: –

In the first part of the course the technology encountered by a firm is modelled, and the circumstances under which all relevant technological information is captured by purely economic objects are demonstrated. It is also shown how efficiency can be analysed by means of DEA analysis. Next, individual choice is considered and a number of representation theorems are derived for choice under both certainty and uncertainty. A number of applications of preference theory are considered, such as the first welfare theorem and its application to asset markets, as well as other kinds of choice under uncertainty. This part of the course is concluded with a treatment of the dual approach to consumer theory, providing a full characterization of the implication of individual utility maximizing behaviour in a market context. In the second part of the course non-cooperative game theory and its economic application are considered. The main focus is on static and dynamic games with complete information, but also simpler games with incomplete information, in particular signalling games, are considered.

More information can be found at http://www.nek.lu.se/GU/GUM_Kurser.asp