NES 1 0 year anniversary , December 19-21. 2002

Courses offered
in 2002/03:

Antitrust and Regulation
Applied Econometrics
Applied Microeconomics
Banking
Contract Theory -2
Contracts - 1
Corporate Finance
Data Analysis
Development Economics I*
Econometrics 1
Econometrics 2
Econometrics 3
Econometrics 4 (required)
Economic of Transition
Economics of Transition+ (rus)
Economics of Corruption
Empirics of Financial Markets+
English
Financial Intermediation+
Game Theory
Growth Theory
Health Economics
History of Economic Thought (required)
Industrial Organization I*
Industrial Organization II*
International Trade*
International Trade Policy
Investment Theory
Labor Economics I *
Labor Economics II*
Law and Economics
Macroeconomics 1
Macroeconomics 2
Macroeconomics 3
Macroeconomics 4
Macroeconomics 5
Macroeconomics 6 (required)
Mathematical Statistics
Mathematics for Economists
Microeconomics 1
Microeconomics 2
Microeconomics 3
Microeconomics 4
Microeconomics 5
Monetary Economics
Monetary Theory and Policy
Natural Resources
Non-Cooperative Games
Open Macroeconomics*
Probability Theory
Public Finance (Cost Benefit)
Public Economics I*
Public Economics II*
Recursive Macroeconomics 1-2
Research Seminar (required)
Russia in the global environment: past and present+
Russia's Financial System
Theory of Economic Reform* (rus)
Topics in Econometrics
Topics in Economic Statistics
Topics in Game Theory
Topics in Microeconomics

MICROECONOMICS 4


4th Module, 2002/2003

Professors:  Michael Landsberger, Sergei Guriev

Group A

Andrei Rachinsky, arachins@nes.ru

Group B

Alexei Makrushin, amakrush@nes.ru

Group C

Akhmed Akhmedov, aahmedov@nes.ru

Group D

Dmitry Prudnichenko, dprudnic@nes.ru

Summary

The course is a part of the advanced graduate sequence in Microeconomic Theory. This module concentrates on neoclassical general equilibrium. We study the exchange and production economies, welfare properties of general competitive equilibria, existence, uniqueness, stability, and game-theoretic foundations of the general equilibrium. Special attention is paid to general equilibrium under uncertainty.

Textbooks

The main textbooks for the course are W. Hildenbrand and A.P. Kirman Equilibrium Analysis and Mas-Colell, A., M. Whinston, and J. Green. The Microeconomic Theory. Reading Chapter 1 of Hildenbrand and Kirman is required. Also, we strongly recommending reading Chapter of D.Kreps A Course in Microeconomic Theory.

Course grade

There will be 6 problem sets and a final exam. The final set will contribute 70% of the course grade with remaining 30% contributed by the problem sets.

  

Week/Topics

Chapters in HK

Chapters in MWG

1.       Introduction to the general equilibrium analysis, 2*2 economy. 

 

1

15

2.       Exchange economy. Production economy. Welfare properties of the equilibrium.

 

2

16

3.       Existence of the equilibrium.

 

3

17

4.       Uniqueness. Stability. Comparative statics.

 

6

17

5.       Extensions: non-convexities, indivisibilities.

 

4.3

17.I

6.       Core and equilibria.

 

4, 5

18

7.       General equilibrium under uncertainty. Contingent commodities. Asset pricing in general competitive equilibrium. Incomplete markets.

 

 

19

 

РЭШ, 117418, Москва, Нахимовский пр. 47, здание ЦЭМИ,
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Тел: 332 - 4423, 129-3911, 129-1700, факс: 129-3722, nes@nes.ru
NES, Nakhimovsky Prospekt, 47, Suite 1721,
117418, Moscow Russian Federation
Tel: (7-095) 129-3911, Fax: (7-095) 129-3722
15.03.04
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