Microeconomics 1 (Part B)
Andy Zapechelnyuk (Andy.Zapechelnyuk@ed.ac.uk)
Office: 31 Bucchleuch Place, Room 4.01 (top floor)
Office hours: In-person/online meeting available by appointment.
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Course Materials for Part B
- Mas-Colell, Whinston, and Green (1995) “Microeconomic Theory” (MWG) - Main reference
- Gibbons (1992) “Game Theory for Applied Economists” (Gib) - Optional reference
- Choice Under Uncertainty (Notes for this course)
- Choice Under Uncertainty (Stanford notes, extra material)
- Game Theory (Notes for this course)
Lecture Notes (from live lectures):
Homeworks and solutions:
- Homework 1 (Due Tuesday, 14th November, 9am) + Solution
- Homework 2 (Due Tuesday, 21st November, 9am) + Solution
- Homework 3 (Due Tuesday, 28st November, 9am) + Solution
- Homework 4 + Solution
Part B OutlinePart B consists of 9 lectures on (Week 6, Thursday afternoon; Weeks 7-10, Thursday morning and afternoon) and 4 weekly homeworks, due Tuesday 9am in the week following the assignment.
- Lectures 1-2: Choice Under Uncertainty
- Expected utility theory (MWG Chapters 6.A-6.B)
- Money lotteries and risk aversion (MWG Chapters 6.C-6.D)
- Lectures 3-9: Game Theory
- Simultaneous-move games (MWG Chapters 7.B-7.E, 8.A-8.D, Gib Chapter 1)
- Extensive form (dynamic) games (MWG Chapters 7.C, 9.A-9.B)
- Games with incomplete information (MWG Chapters 8.E, 8,F, 9.C)
- Repeated games (MWG Chapter 9 Appendix A, Gib Chapter 2)
The overall course mark is based on two examinations, in December and in May. The full (100%) course mark is determined by either the December exam or the May exam marks, whichever is better. Part B of the course constitutes 50% of the mark of each exam. Homeworks are not included in the assessment.
The marking criteria are the same as for Part A of the course. Each question will be rated as no/almost/ok/good/excellent (i.e. 0 to 4) on the following learning outcomes:
- Model formulation
- Knowledge and application of concepts and tools
- Depth and accuracy of analysis
Mock exams and solution guidelines are available here: