Advanced Microeconomics
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I. Optimization in Economic Theory 陈钊，6学时
1.Introduction
The arbitrage argument; corner solutions; Marginal utility of income
2.Lagrange’s Method, Extensions and Generalizations
Lagrange’s Method; Non-negative variables; Inequality constraints; Shadow prices
3.Maximum Value Functions
Parameters in the objective function; The envelope theorem
4.Concave Programming (Optional)
Concave programming; Qusi-concave programming
5.The Maximum Principle
The maximum principle; Continuous-time model
Reference:
Dixit, 1990, Optimization in Economic Theory, Oxford University Press.
Varian, Hal R., 1992, Microeconomic Analysis. 3rd ed. New York: W.W. Norton & Company.
点击下载“A Brief Lecture Notes on Optimization for Microeconomic Analysis”
II. Consumer Theory 张晏，9学时
1. Utility maximization
Consumer Preferences; Existence of a utility function; Consumer behavior; Indirect utility; Expenditure function; Important Identities
2. Individual Choice
Slutsky equation; Hicks and Slutsky compensations; Properties of demand function; Duality in consumption; Revealed Preferences
3. Demand, Aggregating Individual Demands
Endowments; Homothethic Preferences; Separability (aggregating goods); Aggregating consumers
4. Consumer Surplus. Welfare
Compensating and equivalent variations; Consumer surplus; Quasilinear Utility; Consumer Surplus in general;
Reference:
Varian, Hal R., 1992, Microeconomic Analysis. 3rd ed. New York: W.W. Norton & Company.
Jehle, G. and P. Reny, Advanced Microeconomic Theory. 2nd ed. Shanghai University of Finance and Economic Press.
III. Production Theory 陈诗一，9学时
1. Techonology and the Production Function
Techonology; The Production Set; The Production Function
2. Profit Maximization and the Profit Function
Profit Maximization; Comparative Static Analysis; WAPM; The Profit Function; Hotelling’s Lemma; The Envelope Theorem; Supply Correspondence
3. Cost Minimization and the Cost Function
Cost Minimization; Conditional Factor Demand Function; WACM; The Cost Function; Long-Run versus Short-Run Cost Curves; The Shephard’s Lemma; The Envelope Theorem
4. Duality Property
Reference:
Varian, 《微观经济学（高级教程）》
Varian, Hal R. Microeconomic Analysis. 3rd ed. New York: W.W. Norton & Company, 1992.
MWG = MasColel, A., M. Whinston, and J. Green. Microeconomic Theory. Oxford University Press, 1995.
IV. 市场结构和市场行为 寇宗来，9学时
1. Some basic models
Monopoly, Cournot, Bertrand, Stackelberg Model
2. Vertical Control
Externalities and vertical control, intraband vs interband competition
3. Entry, Accommodation and Exit
Stacklelberg; Dixit; A taxonomy of Business strategies; Strategic behavior and barriers to entry
4. Research and development and adoption of new technology
market structure and R&D incentives, patent protection, network externalities standardization
Ref: Jearn Tirole, 1988, Theory of industrial organization, MIT Press.
V. Game Theory 王永钦，6学时
1.Static Game of Complete Information
· Nash Equilibrium; Correlated Equilibrium; Iterated Strict Dominance and Rationalizability
2.Dynamic game of incomplete information
Extensive form; Subgame perfect equilibrium; Backward Induction and Critiques
3.Static game of incomplete information
· Bayesian Game; Bayesian Equilibrim
4.Dynamic game of incomplete information
Perfect Bayesian Equilbrium; Extensive form refinement; Strategic form refinement
Reference:
Fudenberg and Tirole, 1991, Game Theory, MIT Press.
VI. Information Economics 王永钦，9学时
1.Hidden Information (screening)
two types; Continuum of types
2.Hidden Information (Signaling)
The Spence-Model
3.Hidden Action (Moral Hazard)
Two performance outcomes; General Case: The first-order approach; The informativeness principle
4.Disclosure of Information and Verifiability
The Townsend Model; Extensions
5.Dynamics and Commitment
Rachet Effects; Soft budget Constraint
Reference:
Bolton and Dewatripont, 2005, Contract Theory, MIT press.
