Courses Bachelor Display 2019-2020

Course Description To PDF
Course title Information, Markets and Organisations
Course code EBC2108
ECTS credits 6,5
Assessment Whole/Half Grades
Period
Period Start End Mon Tue Wed Thu Fri
5 14-4-2020 5-6-2020 X X
Level Advanced
Coordinator Stefan Terstiege
For more information: s.terstiege@maastrichtuniversity.nl
Language of instruction English
Goals
(1) Get familiar with the microeconomic theory of uncertainty and information, its conclusions, limitations, and main applications;
(2) Acquire a working knowledge of techniques to analyze problems of choice under uncertainty and of asymmetric information.
Description
This course, which falls under the area of mathematical economics and belongs to the Bachelor program Econometrics and Operations Research, gives an introduction to the microeconomic theory of uncertainty and information. In the course, we study basic elements of the role that information plays in the decisions of individuals and firms, as well as in the working of markets. This is done by combining elementary methods of microeconomics with those from elementary probability theory. First, we introduce expected utility maximization, the standard model of choice under uncertainty. We then use this model to study numerous important issues arising from incomplete information, such as attitudes toward risk, demand for insurance, portfolio selection, value of information, (in)efficiency of markets, moral hazard, and adverse selection.
Literature
Bikhchandani, S., J. Hirshleifer, and J.G. Riley (2013), The Analytics of Uncertainty and Information, 2nd edition, Cambridge University Press, Cambridge.
Prerequisites
Prior knowledge in microeconomics equivalent to the course Microeconomics (EBC1012) is essential. Recommended are also the courses Probability Theory (EBC1024), Analysis II (EBC1032), and Game Theory and Economics (EBC2110).
Teaching methods PBL / Lecture / Assignment
Assessment methods Written Exam
Evaluation in previous academic year For the complete evaluation of this course please click "here"
This course belongs to the following programmes / specialisations
Bachelor Economics and Business Economics - Economics and Management of Information Year 2+3 Quantitative Economics Elective(s)
Bachelor Econometrics and Operations Research Year 2 Compulsory Course(s)
Bachelor International Business Year 3 QE Elec(s) - Maj Accounting
Bachelor International Business Year 3 QE Elec(s) - Maj Finance
Bachelor International Business Year 3 QE Elec(s) - Maj Inf Mgmt
Bachelor International Business Year 3 QE Elec(s) - Maj Marketing
Bachelor International Business Year 3 QE Elec(s) - Maj Org
Bachelor International Business Year 3 QE Elec(s) - Maj SCM
Bachelor International Business Year 3 QE Elec(s) - Maj Strategy
Bachelor Economics and Business Economics - Economics Year 3 Quantitative Economics Elective(s)
Bachelor Economics and Business Economics - Emerging Markets Year 3 Elective Course(s)
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Accounting
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Finance
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Inf Mgmt
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Marketing
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Org
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj SCM
Bachelor Economics and Business Economics - International Business Economics Year 3 QE Elec(s) - Maj Strategy
Bachelor International Business - Emerging Markets Year 3 Elective Course(s)
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