Date |
Notes |
Readings |
Homework/Exams |
| January 10 |
Lecture 1: Edgeworth boxes. One consumer-one producer economies |
MWG 15.B,C |
-- |
| January 12 |
Lecture 2: Private Ownership Economies. First Welfare Theorem |
16.A-C |
-- |
| January 17 |
Lecture 3: Second Welfare Theorem |
MWG 16.D,E |
-- |
| January 19 |
Lecture 4: FOC-s for PO and WE |
MWG 16.F |
Hw 1, due January 26
|
| January 24 |
Lecture 5: Existence of Walrasian equilibrium |
MWG 17 A-C Appendix B, AD paper |
-- |
| January 26 |
Lecture 6: The Core of an exchange economy |
MWG 18 A, B |
-- |
| January 31 |
NO CLASS |
-- |
-- |
| February 2 |
Lecture 7: Walrasian equilibrium and the core |
Aumann's paper |
Hw 2, due February 9 |
| February 7 |
Lecture 8: GE under uncertainty. Arrow-Debreu equilibrium |
MWG 19 A-C |
-- |
| February 9 |
Lecture 9: Radner equilibrium |
MWG 19 D,E |
-- |
| February 14 |
Lecture 10: Complete versus incomplete markets |
MWG 19.F, LRW 1.1-1.5, 1.7 |
-- |
| February 16 |
Lecture 11: State prices and arbitrage |
LRW Ch. 2-3, 6.1-6.4, 6.6-6.7 |
Hw 3, due February 23 |
| February 21 |
Lecture 12: Constrained efficiency |
LRW 15.1-15.3, 16.1-16.4 |
-- |
| February 23 |
Lecture 13: Effectively complete markets |
LRW 16.4-16.6 |
-- |
| February 25 |
MIDTERM |
-- |
-- |
| March 7 |
Lecture 14: Normal Form Games. Dominant Strategies |
MWG 8.A-B, FT 1.1 |
-- |
| March 9 |
Lecture 15: Rationalizability and Nash equilibrium |
MWG 8.C,D; FT 2-3 |
-- |
| March 14 |
Lecture 16: Bayesian games |
MWG 8.E, FT 6. |
-- |
| March 16 |
Lecture 17: Extensive-form games: backward induction and SPNE |
MWG 9.B, Appendix A, FT 3. |
Hw 4, due March 23 |
| March 21 |
Lecture 18: Weak perfect Bayesian equilibrium |
MWG 9.C |
-- |
| March 23 |
Lecture 19: Sequential equilibrium |
MWG 9.D, FT 8.3. |
-- |
| March 28 |
Lecture 20: Computation of sequential and weak perfect Bayesian equilibria |
-- |
-- |
| March 30 |
Lecture 21: Signaling |
MWG 13.C, FT 8 |
Hw 5, due April 6 |
| April 4 |
Lecture 22: Screening |
MWG 13.D, FT 8 |
-- |
| April 6 |
Lecture 23: Adverse selection |
MWG 13.B, FT 8 |
-- |
| April 11 |
Lecture 24: Principal-agent models. Hidden actions |
MWG 14.A,B |
-- |
| April 13 |
Review session: Principal-agent models. Hidden information |
MWG 14.C |
 Hw 6, due April 22 |
| April 18 |
Review session: General Equilibrium |
-- |
-- |
| April 20 |
Review session: Game Theory |
-- |
-- |
