Организатор: Финансовый университет при Правительстве РФ
Даты проведения:

С открытой датой

Описание мероприятия

Язык обучения: английский

Описание программы

This course is designed to equip students with the economic principles which are necessary to analyse a whole range of economic problems. It builds on the foundations of economic analysis provided in course EC1002 Introduction to economics.

Aims and objectives

  • To deepen the understanding of the basic theory of optimization by economic agents and the efficiency of the resulting outcome for the market as a whole
  • To introduce students to the analysis of strategic interaction as well as interaction under asymmetric information
  • to clarify the role of economic policies as tools to improve efficiency in the presence of market failures
  • to promote the ability to think in a structured framework, and clarify the importance of formal arguments
  • to demonstrate the art of modelling which requires simplifying a problem by identifying the key elements without oversimplifying the issue.


This course is assessed by a three-hour unseen written examination.

Учебный план:

  • Consumer choice and demand, labour supply
  • Choice under uncertainty, the expected utility model
  • Producer theory: production and cost functions, firm and industry supply
  • Game theory: normal-form and extensiveform games, Nash equilibrium and subgame perfect equilibrium, repeated games and cooperative equilibria
  • Market structure: competition, monopoly and oligopoly
  • General equilibrium and welfare: competitive equilibrium and efficiency
  • Pricing in input markets
  • Inter-temporal choice: savings and investment choices
  • The economics of information: moral hazard and adverse selection, resulting market failures and the role of contracts and institutions
  • Market failures arising from monopoly, externalities and public goods. The role of policy.

Результат обучения:

At the end of this course and having completed the essential reading and activities students should:

  • be able to define and describe:
    • the determinants of consumer choice, including inter-temporal choice and choice under uncertainty
    • the behaviour of firms under different market structures
    • how firms and households determine factor prices
    • behaviour of agents in static as well as dynamic strategic situations
    • the nature of economic interaction under asymmetric information
  • be able to analyse and assess:
    • efficiency and welfare optimality of perfectly and imperfectly competitive markets
    • the effects of externalities and public goods on efficiency
    • the effects of strategic behaviour and asymmetric information on efficiency
    • the nature of policies and contracts aimed at improving welfare
  •  be prepared for further units which require a knowledge of microeconomics.

Требования к поступающим:

If taken as part of a BSc degree, courses which must be passed before this course may be attempted:

  • EC1002 Introduction to economics and either
  • MT105a Mathematics 1 or
  • MT1174 Calculus


This course may not be taken with MN3028 Managerial economics

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