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2021/2022

Advanced Microeconomics

Code: 40100 ECTS Credits: 10
Degree Type Year Semester
4313805 Economic Analysis OT 2 1
The proposed teaching and assessment methodology that appear in the guide may be subject to changes as a result of the restrictions to face-to-face class attendance imposed by the health authorities.

Contact

Name:
Maria Teresa Cabeza Gutes
Email:
Maite.Cabeza@uab.cat

Use of Languages

Principal working language:
english (eng)

Teachers

Jesús David Pérez Castrillo
Susana Esteban Tavera
Joan Llull Cabrer
Pau Milan Sole

External teachers

Esther Hauk
Hanna Wang

Prerequisites

No specific prerequisits.

Objectives and Contextualisation

This   module   covers    advanced    theoretical    models     that     are   in   the   frontier     of   modern   microeconomic   analysis.    Using     rigorous   mathematical   analysis,   this    module  provides   the   student   with     frontier   knowledge   in     contract  design    and game theory,   as   well   as   in   different    applications.   The   models   seen   in   this   module   are   applied   in  novel     research     in     Microeconomics   and are instrumental  to obtaining public   policy   implications. The student can acquire this  knowledge from the  fields of economics of  information, industrial organization,  contracts, incentives and behaviour, corporate  finance, health economics,  development economics, microeconometrics, public economics,labor economics, asset pricing, political economics and experimental economics.

Competences

  • Apply the methodology of research, techniques and specific advanced resources to research and produce innovative results in a specific area of specialisation
  • Capacity to articulate basic economic theory, analytically deriving them from mathematical reasoning
  • Conceptually analyse a specific economic problem using advanced analytical tools
  • Demonstrate an open , innovative and analytical attitude towards research questions
  • Design, plan and carry out economic research
  • Express recommendations about economic policy at macro and micro levels
  • Make independent judgements and defend them dialectically
  • Possess and understand knowledge that provides a basis or opportunity for originality in the development and/or application of ideas, often in a research context
  • Search for information in the scientific literature using the appropriate channels and integrate the information to propose and contextualise a research topic
  • Student should possess the learning skills that enable them to continue studying in a way that is largely student led or independent
  • Students should be able to integrate knowledge and face the complexity of making judgements based on information that may be incomplete or limited and includes reflections on the social and ethical responsibilities associated with the application of their knowledge and judgements
  • Students should know how to apply the knowledge they have acquired and their capacity for problem solving in new or little known fields within wider (or multidisciplinary) contexts related to the area of study
  • Students should know how to communicate their conclusions, knowledge and final reasoning that they hold in front of specialist and non-specialist audiences clearly and unambiguously

Learning Outcomes

  1. Analyse games theory to describe topics of industrial organisation
  2. Apply the methodology of research, techniques and specific advanced resources to research and produce innovative results in a specific area of specialisation
  3. Demonstrate an open , innovative and analytical attitude towards research questions
  4. Describe decision-making in the most complex strategic contexts, including the relationship between the different economic agents and the information structure of the economic context
  5. Distinguish between different principal-agent models
  6. Make independent judgements and defend them dialectically
  7. Possess and understand knowledge that provides a basis or opportunity for originality in the development and/or application of ideas, often in a research context
  8. Recognise the deficiencies in the existing models in the field of information economics and industrial organisation and propose a strategy to be followed to shift the borders of knowledge.
  9. Search for information in the scientific literature using the appropriate channels and integrate the information to propose and contextualise a research topic
  10. Student should possess the learning skills that enable them to continue studying in a way that is largely student led or independent
  11. Students should be able to integrate knowledge and face the complexity of making judgements based on information that may be incomplete or limited and includes reflections on the social and ethical responsibilities associated with the application of their knowledge and judgements
  12. Students should know how to apply the knowledge they have acquired and their capacity for problem solving in new or little known fields within wider (or multidisciplinary) contexts related to the area of study
  13. Students should know how to communicate their conclusions, knowledge and final reasoning that they hold in front of specialist and non-specialist audiences clearly and unambiguously
  14. Use the principal-agent models and notions of games theory to draw conclusions about the appropriateness of certain policies

Content

  • Corporate Finance
  • Microeconometrics
  • Economics of Identity, culture and Institutions
  • Networks
  • Applied Industrial Economics

For a detailed description of the content of topics in this module go to http://idea.uab.cat/master_program.php.

Methodology

The course will consist of sessions where the instructor presents the material, and sessions specifically dedicated to problem solving. Students are encouraged to form study groups to discuss assignments and readings.

The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.

 

Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.

Activities

Title Hours ECTS Learning Outcomes
Type: Directed      
Theory classes 75 3 1, 2, 9, 3, 4, 5, 6, 11, 12, 13, 10, 8, 7, 14
Type: Supervised      
Practice classes, problems sets, tutorials 25 1 1, 2, 9, 3, 4, 5, 6, 11, 12, 13, 10, 8, 7, 14
Type: Autonomous      
Learning based on problem solving, personal study, study groups 150 6 1, 2, 9, 3, 4, 5, 6, 11, 12, 13, 10, 8, 7, 14

Assessment

Final  Exams   

50%  

Class  attendance    and    active    participation    

20%  

Problem  sets    and    assignments    

30%  

The proposed evaluation activities may undergo some changes according to the restrictions imposed by the health authorities on on-campus courses. 

 

Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Class Attendance and Problem sets and assignments 50% 0 0 1, 2, 9, 3, 4, 5, 6, 11, 12, 13, 10, 8, 7, 14
Final Exams 50% 0 0 1, 2, 9, 3, 4, 5, 6, 11, 12, 13, 10, 8, 7, 14

Bibliography

Aghion, P. and Bolton, P. (1992), “An Incomplete Contracts Approach to Financial Contracting,” Review of Economic Studies 59: 473-494.

Akerlof, G. (1970), “The Market for Lemmons, Quality Uncertainty and the Market Mechanism,” Quarterly Journal of Economics 84: 488-500.

Akerlof, G.A., Kranton, R.E., 2000. Economics and Identity. Q. J. Econ. 115, 715—753

Allen, F. and Michaely, R. (1995), “Dividend Policy,” in Handbooks of Operation Research and Management Science: Finance (ed. Jarrow, R., Maksimovic, V. and Ziemba, W.), Amsterdam: North-Holland.

Amemiya, (1985), Advanced Econometrics, Blackwell

Angrist, J. D. and J.-S. Pischke (2009), Mostly Harmless Econometrics, An Empiricist ´s Companion, Princeton University Press.

Bisin, A., Verdier, T., 2001. The Economics of Cultural Transmission and the Dynamics of Preferences. J. Econ. Theory 97, 298--319.

Brealey, R.A. and Myers, S.C. (1997), “Principles of Corporate Finance,” New York McGraw-Hill.

Cameron, A. C. and P. K. Triverdi (2005), Microeconometrics: Methods and Applications, Cambridge University Press

Carvalho, J.-P. (2013) "Veiling" Quarterly Journal of Economics 128(1); 337-370

Caselli, F.and W. J. Coleman, II, On The Theory of Ethnic Conflict, Journal of the European Economic Association, Volume 11, Issue suppl_1, 1 January 2013, Pages 161-192

Davis P. and E. Garcés, Quantitative Techniques for Competition and Antitrust Analysis, Princeton University Press

Jackson, M. O. Social and economic networks. Princeton University Press,2010.

Newman, M.. Networks: an introduction. Oxford University Press, 2009.

Shum, M. Econometric Models of Industrial Organization, World Scientific

Tirole, J. (2006), “The Theory of Corporate Finance,” Princeton University Press.

Tirole, J. The Theory of Industrial Organization, The MIT Press

Toke, A. , F. Albornoz and E. Hauk (2021) “Foreign influence in domestic policy”, Journal of Economic Literature 59(2):426-87

Víctor Aguirregabiria's notes (University of Toronto, Department of Economics)

Wooldridge, J. M. (2002), Econometric Analysis of Cross Section and Panel Data, MIT Press

 

Additional references will be provided during the course.

Software

  • Matlab
  • R
  • Phyton
  • Stata