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Research School of Economics · ANU College of Business and Economics
The course will focus on Microeconomic theory as an approach to organizing economic ideas through modelling. This course will examine some basic components of economic theory concerning the allocation of scarce resources:individual non-strategic decision making by consumers and firms, Markets and General Equilibrium, Game Theory for extending the models of consumers and producers to strategic settings (with an emphasis on asymmetric information and mechanism design), and models of how decisions are made in non market settings through political institutions or within firms. Along the way we will consider how to include uncertainty in models and how to establish the existence of equilibria/optima and the comparative static properties of these predicted outcomes.
Typical assessments may include but is not restricted to in-class exercises, written and oral assignments, quizzes, examinations, group project tasks, oral presentation, and other assessment deemed appropriate to show attainment of the learning outcomes set for the course. Further details will be made available via the Class Summary.
Learning outcomes 1, 2, 3, 4, 5, 6, 7
2 hours a week: lecture 1 hour a week to the modelling workshop, 6 hours a week: reading, research, group work, writing and assignment, 1 hours a week: tutorials and seminars
Please see class summary for prescribed texts