The objective of this course is to finish the coverage of standard microeconomics topics, and to make a step towards a more formal approach. In particular, you will see how simple mathematical models can be helpful in acquiring a deeper and more precise understanding of economic mechanisms and processes. The course provides a good basis for the discussion of more specialised topics later in your study.
The point of departure is the individual choice behaviour of market participants, the learning objective an analysis and assessment of the resulting market allocation under various circumstances.

The course consists of a brief repetition, and then a deepening and extension of the microeconomic topics that have been discussed during the first year microeconomics course. The repetitive elements introduce a more analytical approach, substantiated by a number of formal exercises. New elements in the course are general equilibrium theory, basic game theory, industrial organisation, choice under uncertainty and issues of asymmetric information.

Textbook: Tadelis, Steven (2013), Game Theory: An Introduction, Princeton University Press.

Knowledge and understanding of introductory microeconomics, comparable to course Microeconomics, which is based on the first half of Perloff J.M. (2004), Microeconomics, 3rd edition, Pearson, Addison Wesley, Boston.
Exchange students need to major in economics.
An advanced level of English