ECON80041
Advanced Microeconomic Theory
15
Semester 1
Postgraduate Research
Postgraduate Research
Antonio Nicolo
Unit coordinator
Economics
1
FHEQ level (Framework for Higher Education Qualifications) ' Doctorate '
European Credit Transfer & Accumulation System Rating : 7.5
<p> </p><p> </p>
<p><span lang="EN" style="font-size: 10pt; font-family: "Arial", "sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-ansi-language: EN; mso-fareast-language: EN-US; mso-bidi-language: AR-SA"><font color="#000000">The aim of this course is to provide a rigourous introduction to mechanism design theory, collective choice theory and market design</font></span></p>
<p>At the end of this course students should have a postgraduate research-level of understanding of:</p>
<ul>
<li>
Collective Choice theory and Mechanism Design: preference aggregation and social choice functions, normative principles of collective decisions.</li>
<li>
Implementation theory; implementation in dominant strategies, Nash implementation and Subgame Perfect implementation, Bayesian Nash implementation.</li>
<li>
Market design: one-sided and two-sided matching models with applications to school choices, kidney paired exchanges, labour markets</li>
</ul>
<div>
<p>PART I</p>
<ul>
<li>
<strong>Social Choice and Mechanism Design </strong></li>
<li>
Collective Choice theory: an Introduction</li>
<li>
Social choice functions: the Gibbard-Satterthwaite theorem</li>
<li>
Dominant Strategy Implementation</li>
<li>
Domain restrictions: single-peaked preference domain and median voter theorem</li>
<li>
Quasi-linear preference domain. Groves’ scheme The Pivotal Mechanism and Vickrey Auctions</li>
<li>
Nash Implementation and Subgame Perfect Implementation</li>
<li>
Bayesian Implementation</li>
</ul>
<p>PART II</p>
<ul>
<li>
<strong>Market Design</strong>
<ul>
<li>
Introduction to Matching Theory:</li>
<li>
One-sided matching Market Top Trading Cycle</li>
<li>
One-sided matching with endowment</li>
<li>
Two-sided matching</li>
<li>
Applications to school choices, kidney exchanges programs, labour markets.</li>
</ul>
</li>
</ul>
<ul>
<li>
</li>
</ul>
.</div>
<div>
</div>
<div>
</div>
<P>Lectures and tutorials</P>
0
Other
40%
1
Written exam
60%
<p>40% mid term exam</p><p>60% Final exam in January 2019.</p>
Y
Lectures
21
Tutorials
14
0
115
<p><br />
<strong>Pre-Requisite:</strong><br />
The equivalent of a good MSc in Economics<br />
<br />
A PGR course unit</p><p><b>Timetable</b><br />
</p><p>Lecture Wednesday 9-12pm</p><p>Tutorial Thursday 9-11am</p>