# Microeconomics 1 (Part B)

## Contact

Andy Zapechelnyuk (Andy.Zapechelnyuk@ed.ac.uk)

Office: 31 Bucchleuch Place, Room 4.01 (top floor)

Office hours: By appointment only; there will be drop-in office hours closer to May exams.

## News

No news at the moment.## Course Materials for Part B

**Textbooks:**

- Mas-Colell, Whinston, and Green (1995) “Microeconomic Theory” (
**MWG**) -*Main reference* - Gibbons (1992) “Game Theory for Applied Economists” (
**Gib**) -*Optional reference*

**Printouts:**

- 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 Outline

Part 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)

## Assessment

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

Practice exams and solution guidelines are available here:

- Mock Exam 1 and its Solution Guideline
- Mock Exam 2 and its Solution Guideline
- December 2023 Exam and its Solution Guideline