| Course Description |
The course offers a doctoral level mathematical treatment of microeconomics of decision making and
choice. |
| 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 |
| Pre-requisites |
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 |
| Instruction |
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]
|
| Assessment |
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 |
