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| ECON0927-1 | Advanced Microeconomics
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| Duration : | 30h Th, 15h Pr |
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| Credits/ECTS : |
| Master in Economical Sciences, in-depth approach, 1st year | | Second semester | | 5 |
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| Master in Economical Sciences, didactic approach, 1st year | | Second semester | | 5 |
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| Master in Economical Sciences, Professional Focus in Economic Policies and Analysis, 1st year | | Second semester | | 5 |
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| Master en sciences économiques,orientation générale, à finalité spécialisée en economics and finance, 1st year | | Second semester | | 5 |
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| Master en sciences économiques, orientation générale, à finalité spécialisée en economic analysis and public governance, 1st year | | Second semester | | 5 |
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| Master in Economical Sciences | | Second semester | | 5 |
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| Holder(s) : | Alain Jousten |
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| Language : | English language |
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| Course contents : | This course can be seen as an extension and further formalization of the course in intermediate microeconomics, from which it also borrows the methodology.
It formalizes the concepts of individual and public choice further. The approach encompasses consumers, producers and the government. It also discusses choice under uncertainty and adverse selection.
In a next step, it assembles these elements to determine a general equilibrium in prices and quantities that result from the interaction of all economic actors.
Finally, the course evaluates the equilibria in a normative analysis from the point of view of the social optimum and suggests corrective measures in the face of various market failures. |
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| Course objective : |
- Formalize the microeconomic analysis.
- Present the two propositions of welfare economics, the foundation of collective choice and the canonical market failures.
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| Prerequisites : | Intermediate microeconomics |
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| Workshops : | Exercise sessions |
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| Organization : | second semester |
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| Written notes : | Reference book
Jeffrey Perloff, Microeconomics, Theory and applications with calculus, (2007) Pearson International
Recommended readings
H. Varian, Microeconomics Analysis, Norton
D. Kreps, A course in Microeconomic Theory, Princeton |
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| Assessment : | written exam |
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| Contacts : | Professor
A. Jousten, Bât. B31, Local I/43 - 04/3663198
E-mail: ajousten@ulg.ac.be
Assistant
F. Vandeninden, Bât. B31, 04/366.31.03
E-mail: Frieda.Vandeninden@ulg.ac.be(ajousten@ulg.ac.be) |
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