Topics in Microeconomics I

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.

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.