Microeconomics II

3 units

MEC 615 is the second semester in the graduate PhD core microeconomics sequence. The sequence prepares students to conduct original research in economics and related fields. In the first half of the semester, students will cover all of the basic tools of game theory in economics. Topics for first half include a review of expected utility theory, strategic-form and extensive-form games with perfect information, Bayesian games, infinitely repeated games, dominance, and Nash equilibrium and its refinements. We will apply these tools to study strategic situations in industrial organization, auctions, bargaining, voting, and signaling games. The second half of the course covers topics in information economics and mechanism design, including social choice, price discrimination, auctions, moral hazard and adverse selection.