ECON5200 – Advanced Microeconomics
Course description
Course content
This course has joint teaching with ECON9200B – Advanced Microeconomics.
This is an advanced course in microeconomic theory. The course covers the main topics of microeconomics from consumer and producer behavior, partial and general equilibrium, behavior under uncertainty, game theory and asymmetric information.
Topics
- Preferences, choice and demand
- Production
- Partial equilibrium
- Expected utility
- Static games
- Dynamic games and beliefs
- Market power and product differentiation
- Adverse selection, signaling and screening
- Principal agent problems
- General equilibrium and welfare
- Existence and uniqueness of equilibrium
- General equilibrium under ucertainty
- Intertemporal equilibrium
Learning outcome
Knowledge outcomes
You will learn the fundamental methods and theories of microeconomics, and be provided with the basic tools and concepts required to understand scientific papers at the research frontier of microeconomic theory. The course cannot bring you to the frontier of all topics within microeconomic theory, but will give you sufficient knowledge to read papers on the frontier and thus be able to acquire knowledge of the frontier of most areas in microeconomics.
Skills
The student should be able to read and understand scientific papers representing the research frontier of microeconomic theory.
Admission to the course
Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.
Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunns?konomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.
Formal prerequisite knowledge
- Bachelor`s degree in Economics, or equivalent.
- ECON3220 – Microeconomics 3 / ECON4220 – Microeconomics 3 or equivalent.
Recommended previous knowledge
- Students who do not have ECON3120 – Mathematics 2: Calculus and Linear Algebra / ECON4120 – Mathematics 2: Calculus and Linear Algebra or equivalent, are advised not to take this course.
Overlapping courses
- 10 credits overlap with ECON9200 – Advanced Microeconomics (discontinued).
- 8 credits overlap with ECON9200B – Advanced Microeconomics.
Teaching
Lectures.
Access to teaching
A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.
The course responsible can at the beginning of the semester update the syllabus list by changing no more than 3 articles, though in a way that it will not change the overall scope or thematic content of the course.
The syllabus also includes any lecture notes that will be made available for the students in Canvas
Examination
Students will be evaluated by means of portfolio assessment, based on an assignment that will be given towards the end of the course.
Exam papers with comments from examiner
Examination support material
All exam support materials are allowed during this exam. Generating all or part of the exam answer using AI tools such as Chat GPT or similar is not allowed.
Language of examination
The examination text is given in English, and you submit your response in English.
Grading scale
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Students who would like to have the course approved as part of the requirement for admission to our phd-program, must obtain the grade C or better. Students who would like to have the course approved as a part of our phd-program, must obtain the grade B or better.
Resit an examination
Students who wish to retake the exam in a later semester are not guaranteed that the course will be given with the same content and syllabus, or that the examination scheme will be the same.?
More about examinations at UiO
- Use of sources and citations
- How to use AI as a student
- Special exam arrangements due to individual needs
- Withdrawal from an exam
- Illness at exams / postponed exams
- Explanation of grades and appeals
- Resitting an exam
- Cheating/attempted cheating
You will find further guides and resources at the web page on examinations at UiO.