The subject is an advanced treatment of the Economics of Information and Game Theory. Students study the foundations of consumer and producer theory. Game theoretic interpretations of equilibrium are introduced including those appropriate for asymmetric situations. The concept of a Bayesian Nash equilibrium is applied to models of moral hazard and adverse selection and provides an introduction to auction theory and mechanism design. -- Course Website
Prerequisites: Completion of 100 points in the Master of Economics, a major sequence in economics or a cognate discipline will normally be required before this subject is taken.
