DRE 7031 Topics in Microeconomics I

DRE 7031 Topics in Microeconomics I

Course code: 
DRE 7031
Department: 
Economics
Credits: 
3
Program of study: 
Doktorgradsstudium
Course coordinator: 
Pawel Gola
Product category: 
PhD
Portfolio: 
PhD Economics courses
Semester: 
2021 Spring
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

The aim of the course is to give the students a thorough understanding af selected topics in microeconomics. Selection of topics will depend on the instructor of the course. In Spring 2021 we will cover two topics: monotone comparative statics and auctions.

Learning outcomes - Knowledge

After taking this course students should be able to apply rigorous microeconomic techniques to analyse economic performance in different institutional settings.

Learning outcomes - Skills

The students are expected to learn

 

  • How to prove formally abstract monotone comparative statics results
  • How to apply those results to quickly derive results in otherwise intractable models
  • How to solve analytically auction models
General Competence

Understand which assumptions are critical in economic models, and which are only introduced for analytical convenience; and understand how (carefully designed) auctions can improve the allocation of resources.

Course content

The main objective of this course is to give an introduction to some of the main topics in modern advanced microeconomic theory. In the Spring 2021 we will cover two topics: Monotone comparative statcs (8 hours) and auction theory (7 hours). Specifically, we will cover:

Monotone comparative statics:

  •  monotone comparative statics with respect to optimization problems (Topkis, 1978; Milgrom and Shannon, 1994);
  •  monotone comparative statics with respect to fixed point problems (Migrom and Roberts, 1994)
  •  quasi-supermodular games (Milgrom and Roberts, 1990).

Auctions:

  •  the four common types of auctions: the English auction, the Dutch auction, the first-price sealed-bid auction, the second-price sealed bid auction;
  •  Independent private values (IPV) auctions: solutions and revenue equivalence theorem;
  •  Common value auctions: revenue equivalence theorem, winner's curse and almost-common value auctions.
Teaching and learning activities

The course will be taught over 4 weeks, with 6 two hour lectures over the first three weeks, and a single 3 hour lecture in the fourth week. There will also be a single three hour long practice session, where the students will solve problem sets/present prepared solutions under the supervision of the instuctor (normally in week 4).

Software tools
No specified computer-based tools are required.
Qualifications

Enrollment in a PhD programme is a general requirement for participation in PhD courses at BI Norwegian Business School.
External candidates are kindly asked to attach confirmation of enrollment in a PhD programme when signing up for a course. Other candidates may be allowed to sit in on courses by approval of the course leader. Sitting in on a course does not permit registration for the course, handing in exams or gaining credits for the course. Course certificates or confirmation letters will not be issued for sitting in on courses.

Required prerequisite knowledge

Enrollment in a PhD programme is a general requirement for participation in PhD courses at BI Norwegian Business School.
External candidates are kindly asked to attach confirmation of enrollment in a PhD programme when signing up for a course. Other candidates may be allowed to sit in on courses by approval of the course leader. Sitting in on a course does not permit registration for the course, handing in exams or gaining credits for the course. Course certificates or confirmation letters will not be issued for sitting in on courses.

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
DRE 70311
Grading scale:
Pass/fail
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100No3 Hour(s)Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:No
Grouping (size):Individual
Duration:3 Hour(s)
Comment:
Exam code:DRE 70311
Grading scale:Pass/fail
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Group work / Assignments
36 Hour(s)
Specified learning activities (including reading).
Student's own work with learning resources
36 Hour(s)
Autonomous student learning (including exam preparation).
Teaching on Campus
18 Hour(s)
Sum workload: 
90

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 3 ECTS credit corresponds to a workload of at least 80 hours.