Dr Christopher Sandmann SAL 4.24

Dr Paula Onuchic

This course is compulsory on the MSc in Econometrics and Mathematical Economics. This course is available on the MSc in Applicable Mathematics, MSc in Economics and MSc in Economics (2 Year Programme). This course is available with permission as an outside option to students on other programmes where regulations permit.

Students on other programmes must get permission from the course conveners to take this course. 

Students must have completed Introductory Course for MSc EME (EC451).

EC451 takes place prior to the start of Autumn Term, please contact econ.msc@lse.ac.uk for more information.

The aim of this course is to: (i) introduce and develop the analytical tools of graduate level Microeconomics with a special emphasis on mathematical models; (ii) provide the students with a firm grounding in classical Microeconomic Theory as well as its modern development.

In Autumn term, topics are likely to include: Games of complete information (zero-sum and supermodular games, rationalizability, correlated equilibrium, equilibrium refinements, Nash + Rubinstein bargaining, repeated games, oligopoly), general equilibrium (existence + uniqueness, welfare theorems, core equivalence, Walrasian bargaining, jungle equilibrium). In winter term, topics are likely to include: games of incomplete information (Bayesian Nash Equilibrium and its refinements, with application to signalling games); topics on mechanism design, contracting, and strategic communication; and social choice theory.

20 hours of lectures and 9 hours of seminars in the AT. 20 hours of lectures and 9 hours of seminars in the WT. 1 hour of seminars in the ST.

This course is delivered through a combination of classes and lectures totalling a minimum of 59 hours across Autumn Term, Winter Term, and Spring Term.

There will be a reading week in Week 6 of AT and in Week 6 of WT (no lectures or classes in those weeks).

Problem sets will be discussed in class and two marked assignments will be given in AT and WT.

The main texts are:

Osborne and Rubinstein, A Course in Game Theory, The MIT Press,

Mas-Colell, Whinston & Green, Microeconomic Theory, OUP, and,

A Rubinstein, Lecture Notes in Economic Theory, Princeton University Press (with the most up-to-date version available for free download from the author's website).

Other sources include: Fudenberg and Tirole, Game Theory, MIT Press.

Exam (40%, duration: 2 hours, reading time: 15 minutes) in the January exam period.
Exam (40%, duration: 2 hours, reading time: 15 minutes) in the spring exam period.
Problem sets (20%) in the AT and WT.

Note that EC451 material will be covered on the exam.