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Applied Microeconomics (ES50114) Course Outline Semester 1, 2018-19 Department of Economics, University of Bath

Lecturer : Elnaz Bajoori, [email protected], Office: 3East 4.31b. Office hours: Mondays 10:15-12:05.

Course structure: 9 Lectures, on Mondays from 14:15 to 16:05, starting from October 8, 2018 (weeks 2-5, 7, 9-11, 15); 4 Seminars, on weeks 3,5,8, and 10; Assessment: The assessment includes one problem set that will be done during the lecture on 26 November (30%) and one final exam (70%).

Content: This unit will cover basic decision making by economic agents (consumers, producers, household/ firms), in various environments (information, risk, strategic interdependence).

Topics: Topic 1: Consumer behaviour Utility maximization, Choice theory, Uncertainty, Expected utility model. Topic 2: Pure exchange and general equilibrium General equilibrium, Efficiency, Welfare economics, Social choice, Externality Topic3: Information Moral hazard and incentives, Adverse selection and market signalling, Mechanism design.

2 Exercises Sets: There will be exercises for you to attempt and it is extremely important that you try to go through these. These exercises sets will be made available before each class. Key texts: 1. Hal R. Varian: Microeconomic analysis, W. W. Norton. 2. Hal R. Varian: Intermediate micro economics, W. W. Norton. 3. Davis M. Kreps: A course in microeconomic theory, FT Prentice Hall....