Master course: Advanced Microeconomics

Here you find all important information and course material for the module "Advanced Microeconomics". It is a mandatory class for Master students M.Sc. Economics.

Klausureinsicht WS23/24

Die Klausureinsicht WS23/24 findet am Donnerstag, den 14. März, zwischen 09:00 Uhr und 11:00 Uhr statt (Institutsgebäude, Raum I219).

Organization 2023/2024:

In the winter term 2023/2024, Advanced Microeconomics will be taught in a hybrid format. Voice has been added to the slides (available on moodle). The slides below are without voice, the slides on moodle are the same (with a very few corrections added), but with voice added. You do not need a password to enroll in the course.

You are all expected to go through the voiced slides before the flipped classroom meetings. We will meet two times every week (not three times) and this meeting time will be spent on especially difficult material and on exercises. Therefore, catching up on bachelor-level microeconomics (see „Preparation” below) is even more important in the upcoming semester than in previous years. 

We meet on Mondays, 9:15, and on Wednesdays, 9:15.

Preparation

Before the classes start, you may want to

  • work through the textbook on bachelor-level microeconomics by Harald Wiese (Mikroökonomik - Eine Einführung, Springer, 2010, 5. ed.) and/or through similar (English!) textbooks such as Varian (Intermediate Microeconomics), Perloff (Microeconomics), Schotter (Microeconomics) or Frank (Microeconomics and Behavior),
  • solve the exercises and past tests of bachelor-level microeconomics, and
  • consult the assistants for any questions that may arise. (Send email to Mr. Singer or send email to Ms. Freistühler.)
  • Also, before the classes start, you will have worked through a few, if not all, chapters on moodle.

  • In addition, you are invited to attend the lecture „Intermediate Microeconomics” (bachelor level). The language will be German.

1st Session: Budget; preferences (Monday, 25.09.2023, 09:00-11:00 Uhr, SR 12 (Institutsgebäude I215))

2nd Session: Household optimum; comparative statics; labour supply and savings (Wednesday, 27.09.2023, 9:00-11:00 Uhr, SR 12 (Institutsgebäude I215))

3rd Session: Production theory; costs; profit maximization (Friday, 29.09.2023, 9:00-11:00 Uhr, SR 12 (Institutsgebäude I215))

4th Session: Market demand; perfect competitive markets; first welfare theorem (Wednesday, 04.10.2023, 9:00-11:00 Uhr, SR 12 (Institutsgebäude I215))

5th Session: Compensating and equivalent variation; consumer and producer surplus; monopoly (Thursday, 05.10.2023, 9:00-11:00 Uhr, SR 12 (Institutsgebäude I215))

6th Session: Game theory; oligopoly (Friday, 06.10.2023, 9:00-11:00 Uhr, SR SR 12 (Institutsgebäude I215))

Literature

The lecture is based on the book WIESE: Advanced Microeconomics (Springer Gabler, 2021) (chapter XVI is not covered in the course) but sometimes presentation in class and on the slides below is somewhat simpler than in the book. The ebook is accessible via the VPN connection of Leipzig University. The textbook by Geoffrey Jehle and Philip Reny (Advanced Microeconomic Theory) provides supplementary reading on a similar level. If you have any questions, please, do not hesitate to address the assistants anytime.

Topics and slides (voiced slides available on moodle)

In brackets you find a more printer friendly version with a plain layout

Part A:     Basic decision and preference theory

Part B:      Household theory and theory of the firm

Part C:     Games and industrial organization

 Part D:     Bargaining theory and Pareto optimality

Part E:     Bayesian games and mechanism design

 Part F:     Perfect competition and competition policy

Part G:     Contracts and principal-agent theories