Microeconomic Theory



ECON 703: Advanced Microeconomics I
Formal treatment of game theory and its microeconomic applications are presented in this course, emphasizing dynamics and information. Equilibrium concepts for static and dynamic games, and games with complete and incomplete information are studied. Topics also discussed include: mechanism design, efficiency, reputations, signaling, and screening.

ECON 704: Advanced Microeconomics II
Course material varies from year to year; currently focuses on auction theory, matching theory and the relationship between the two. Other topics treated in some years include sequential bargaining under incomplete information and equilibrium refinements.

Field Requirements in Microeconomics

Major field: ECON 703 and 704 and a third course. The third course may be in Industrial Organization theory (ECON 661 or 662), a doctoral course in Finance offered by the business school, an advanced mathematics course, or another course approved by the micro theory faculty.

Field exam: always offered in late May/early June; offered in January only to students who did not pass the May/June exam. Passing the field exam is an important precondition for doing thesis research in advanced microeconomics. Students who have passed the field exam are encouraged to meet with facutly in the field to develop ideas for original thesis research. Our ultimate willingness to work with you as thesis advisors will depend on your ability to demonstrate the capacity to execute original research in the field.

Average grade of B+ or better in the courses, and pass field exam.

Minor field:  ECON 703 and 704. Average grade of B+ or better in courses, or pass the field exam.