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Modelling firms and markets

M458

Modelling Firms and Markets is an introduction to the economics of information and uncertainty.

Topics covered

  • Unit 1: Static Games of Complete Information
  • Unit 2: Dynamic Games of Complete Information
  • Unit 3: Static Games of Incomplete Information
  • Unit 4: Dynamic Games of Incomplete Information
  • Unit 5: Hidden Action (Moral Hazard)
  • Unit 6: Hidden Characteristics (Adverse Selection)
  • Unit 7: Auctions
  • Unit 8: General Competitive Equilibrium

Assessment

  • one three-hour unseen written examination (70%)
  • two tutor marked assignments (30%)

Essential reading

  • Gibbons, R (1992) A Primer in Game Theory, Harvester Wheatsheaf.
  • Campbell, DE (2006) Incentives: Motivation and the Economics of Information, 2nd Edition, Cambridge University Press.