Course description

2. Syllabus

Topics

1 General Equilibrium

1-1 Existence > MWG 17

1-2 Local Uniqueness > MWG 17

1-3 Optimality > MWG 16

1-4 Core properties > MWG 18

1-5 Equilibrium under uncertainty > MWG 19

2 Market Failure

2-1 Market Power > MWG 12

2-2 Externalities and Public Goods > MWG 11

2-3 Adverse selection, signaling and screening > MWG 13

2-4 The Principal-Agent Problem > MWG 14

2-4-1 Moral hazard

2-4-2 Monopolistic screening

3 Welfare Economics and Incentives

3-1 Mechanism Design > MWG 23, FT 7

3-1-1 The Revelation Principle

3-1-2 Implementability

3-1-3 Optimality

3-1-4 Multi-agent case

3-1-5 Dominant-Strategy Implementation – the Groves-Clarke Mechanism

3-1-6 Bayesian Implementation – the AGV Mechanism

3-1-7 Bilateral trade – Myerson-Satterthwaite Theorem

3-1-8 Auctions

3-2 Social Choice > MWG 21

3-2-1 Arrow Theorem

3-2-2 May’s Theorem

3-2-3 Gibbard-Satterthwaite Theorem