TrainingsDE 2ème/3ème cycleDESU Magistère Ingénieur EconomisteCoursesMicroeconomics

DESU Magistère Ingénieur EconomisteUE Microeconomics

Informations

Content

1) Goals :

- Reminder of the main results of the theory of general equilibrium TEG

- Beyond the TEG : market failures due to

  • strategic behavior
  • information asymmetries

- Applications

2) Course overview :

  • Reminders : the two theorems

o the first intuition o a simple extension o a general framework of an exchange economy

  • Some “game theory”
    • extensive and strategic form
    • incomplete information
    • Nash equilibrium
    • Extensions : subgame perfect Nash equilibrium, perfect Bayesian Nash equilibrium
  • Asymmetries of information
    • Introduction : a simple transaction seller-buyer
    • the adverse selection phenomenon : a first source of inefficiency
    • A simple model of monopoly
    • the moral hazard case
    • A simple model in insurance
  • Applications
    • Industrial Organization (non linear pricing)
    • Corporate Finance (crédit rationning)
    • Public Economics (optimal taxation)

Professional skills

  • Understand the reference model of général equilibrium theory
  • Understand the origin of market failures due to strategical behaviour and asymmetries of information

Language used

Main language used by this course: Anglais et Français.

Bibliography

Microeconomics Mankiw

Recommended prerequisites

Basic knowledge in Microeconomic theory

Basic knowledge in optimization

Skills in differential and intégral calculus

Structure and organisation

24 hours course

This course is located in Aix (eng) and Marseille (fr)

The final evaluation is an exam with exercises to solve

Volume of teachings

  • Lectures: 24 hours

Teacher

  • Dominique HENRIET

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