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Courses / Modules / ECON2033 Microeconomics of Strategy

Microeconomics of Strategy

When you'll study it
Semester 1
CATS points
15
ECTS points
7.5
Level
Level 5
Module lead
Max Kwiek
Academic year
2021-22

Module overview

This module develops the basic models of non-competitive behaviour in modern microeconomics. It

builds a framework for the analysis in markets where traditional price theory fails. Central elements in

the development of this framework are choice in strategic situations and choice under asymmetric

information. Building models from first principles, students will see why the good welfare properties of

the competitive market system fail in the presence of either informational asymmetries or strategic

motives. The theories are applied to the analysis of public goods, externalities, oligopolistic markets,

markets for insurance, the theory of auctions and other applications. This module applies the analysis

of market failure in a variety of policy contexts.

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