John Riley

1. ESSENTIALS 2018

Lectures: Tuesday and Thursday 9:30-10:45 Bunche Hall 1221A

TA section: Fridays, 10-11:50am, Dodd Hall 146

Mid-term: In class May ??.

Grading: Weight on homework 40% Mid-term 20% Final 40%

Teaching assistant: The TA for this class is Diego Zuniga. Click here for TA Web-page.

I will hold office hours after lectures till 11:30 TU and TH. I will also hold an informal "TA" session at noon in my office or the Eighth Floor Lounge on Monday as long as someone lets me know in advance. Bring your sandwich!

7-7-11

You may call me at home any day between 7:00AM and 11:00 PM. If no one answers, leave a message and I will call you back.

2. READING

The text book for this class is
Riley: Essential Microeconomics (EM). This is on reserve in Young Library

You may also wish to consult
Mas-Colell, Whinston and Green: Microeconomic Theory
Fudenberg and Tirole: Game Theory

Class Notes: Extensive notes are provided on this web-site for all topics covered in the course.

3. EXERCISES

The best way to master this material is by doing lots of exercises. The answers to all the odd numbered exercises in EM are provided. I will also provide the answers to all the even numbered exercises before the mid-term. But please do not look at the answers until you have really worked hard on trying to answer them.

4. TOPICS

APPLIED GE: International trade, Futures markets, Financial markets
MORAL HAZARD: Moral hazard EM 7.4
ADVERSE SELECTION EM 11.2 pp 396-398
AUCTIONS, REVENUE EQUIVALENCE THEOREM EM 10.1
REFINEMENTS OF PERFECT BAYESIAN EQUILIBRIUM EM 10.2
INCENTIVE COMPATIBILITY EM 11.1
INFORMATION REVELATION, ADVERSE SELECTION AND SIGNALING EM 11.2
MECHANISM DESIGN EM 11.3
AUCTION DESIGN EM 12.1-12.1
PROVISION OF A PUBLIC GOOD EM 12.3-12.4
EFFICIENT PRODUCTION AND EXCHANGE EM 12.6

In the highly unlikely event that time is available, additional topics may be added.
ADVANCED AUCTION TOPICS
TECHNICAL TOPIC: OPTIMAL CONTROL EM 6.5

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