Economics | Theory of Prices and Markets II
E621 | 1715 | Prof. Schmidt


E621- Theory of Prices and Markets II

This is the second course in the graduate microeconomic theory core,
and as such,
is intended to build upon the foundations built in E521.  It shall be
concentrated
primarily on two important modes of microeconomic analysis.  First, we
will shift
our attention to models in which the economy is viewed as a system of
interrelated
markets.  This is called general equilibrium analysis.  The second
major approach
to microeconomic analysis to be studied is game theory, which can be
seen as an
extension of decision making under uncertainty, where some of the
uncertainty is
now created by the actions of other economic agents.  Popular
applications of
this theory tend to concentrate on situations in which agents
potentially have
different information about the economic environment.