ECON4220 ¨C Microeconomics 3

Course content

This course is equivalent with?ECON3220 - Microeconomics 3?

• General equilibrium with state-dependent goods
• Incomplete markets and decisions under uncertainty
• Games of incomplete information
• Economics of information

Learning outcome

Knowledge

You should know

• the theory of choice under uncertainty, including the expected utility theorem
• different form of non-cooperative games ¡ª both with and without complete information ¡ª and solution (both equilibrium and non-equilibrium) concepts for each of these classes of games
• the implication of moral hazard problems and adverse selection

Skills

You should be able to

• understand basic concept of decision theory
• formulate economic problems that involve strategic interaction as non-cooperative games
• use the appropriate solution concepts in such games
• formulate economic problems that involve asymmetric information

Competence

You should be able to

• follow economic reasoning related to the course, for instance when reading professional reports

Admission to the course

Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

Students not admitted to the Master¡¯s programme in Economics or the Master¡¯s programme in Economic Theory and Econometrics (Samfunns?konomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.

Formal prerequisite knowledge

You must fulfill one of these prerequisites:

• Bachelor`s degree in Economics, or equivalent

• ECON1100 ¨C Matematikk I, and ECON2220 ¨C Mikro?konomi 2.

Alternatively

• MAT1100 ¨C Calculus.

• ECON2220 ¨C Mikro?konomi 2 or ECON1500 ¨C Innf?ring i samfunns?konomi for realister (discontinued) or MAT1700 ¨C Introduction to micro and macro economics (discontinued).

Recommended previous knowledge

• It is recommended to take the course either in parallel with or after ECON3120 ¨C Mathematics 2: Calculus and Linear Algebra / ECON4120 ¨C Mathematics 2: Calculus and Linear Algebra, or equivalent.

Overlapping courses

• 10 credits overlap with ECON3220 ¨C Microeconomics 3.
• 5 credits overlap with ECON3200 ¨C Microeconomics and Game Theory (discontinued).
• 5 credits overlap with ECON4200 ¨C Microeconomics and Game Theory (discontinued).
• 5 credits overlap with ECON4240 ¨C Equilibrium, Welfare and Information (discontinued).

Teaching

Lectures and seminars.

Compulsory tuition activities:

• A compulsory term paper.

The assignment deadline will be specified in Canvas. If you submit your answer to the assignment, but do not pass, you may get another attempt. The new attempt will have a short deadline.

When the compulsory term paper is approved, the result will be registered. The?approved compulsory term paper is valid for 9 semesters, starting with the semester in which it is passed.

See The Faculty of Social Sciences` rules regarding compulsory tuition activities.

Candidates who have passed the course before autumn 2016 and wish to re-take the exam need to get the term paper approved before they can re-take the exam.

Absence from compulsory tuition activities

If you are ill or have another valid reason for being absent from compulsory tuition activities, your absence may be approved or the compulsory activity may be postponed.

• Report absence from or the need for a postponed deadline on a compulsory tuition activity

Access to teaching

A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.

Course responsible can at the beginning of the semester update the syllabus list by changing no more than three articles, though in a way that it will not change the overall scope or thematic content of the course.

The syllabus also includes any lecture notes that will be made available for the students in Canvas.

Examination

A 3-hour written school exam.

You must have passed the compulsory activities in order to sit for the exam.

Previous exams

Exam papers with comments from examiner

Examination support material

Resources allowed: Open book examination, where all printed and written resources are allowed.

Language of examination

The examination text is given in English. You may submit your response in Norwegian, Swedish, Danish or English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Resit an examination

If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.

There are restrictions on resitting this exam. See further information about resitting an exam.

More about examinations at UiO

• Use of sources and citations
• Special exam arrangements due to individual needs
• Withdrawal from an exam
• Illness at exams / postponed exams
• Explanation of grades and appeals
• Resitting an exam
• Cheating/attempted cheating

You will find further guides and resources at the web page on examinations at UiO.