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26045 Advanced Microeconomics 1, 5 cr 
Code 26045  Validity 01.01.1950 -
Name Advanced Microeconomics 1  Abbreviation AdvMicro1,Hki 
Credits5 cr  Date of expiry 10 years
TypeAdvanced studies Subject260 Economics 
KindCourse  Hours  
Study right   GradingStandard Scale 
Recommended time 
Organisation Economics, Helsinki 

Miettinen, Topi 

Course Description 

The course offers a doctoral level mathematical treatment of microeconomics of decision making and

Learning Goal 

You have an in-depth advanced level understanding of the basic theoretical concepts, assumptions, and results of decision theory and consumer theory.

After completing the course, you will be able to 
  • write down logical and mathematical proofs of relationships between theoretical variables and constructs in decision theory and consumer theory
  • distinguish between the various purposes of theoretical modeling
  • apply modelling tools in the context relevant for your own research
  • assess the limitations of the theory
  • critically evaluate the modelling assumptions made and understand the various criteria for choosing modelling assumptions
  • relate the theoretical analysis to empirical research in the field
Course Category 

Class-based course


Master level studies in economics or financial economics, ongoing or completed

Total Student Workload 

134 hours divided into
Scheduled (contact) hours: 36 h
Non scheduled work: 98 h


Lectures, pen-and-paper exercises, online experiments, elementary data-analysis.

Literature and Course Material 
  • Chambers, C., Echenique, F. (2016). Revealed preference theory. Cambridge: Cambridge University Press. Chapters 1,2,3,5,7,8.
  • Mas-Colell, A., Whinston, M. D. & Green, J. R. (1995). Microeconomic theory. New York: Oxford University Press. Chapters, 1-3, 5, 6.
  • Rubinstein, A. (2020). Lecture notes in microeconomic theory: The economic agent. Princeton: Princeton University Press. Chapters 1-8.  [Freely available on the author's personal website]

Final exam: 70%
Exercises: 30%

Recommended Time of Performance 

Master students with strong research career intrests and PhD students in economics and finance at Hanken and Helsinki GSE. If you are not a PhD student, please, contact the examiner beforehand to verify that this course is suitable.

Non-degree studies (Open University, JOO and Contract Studies) 

Quota for the Open university: 3
Quota for JOO-students: 3


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