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Course Description

Course: Advanced Economic Analysis

Code: ECO301

Semester:

Tutors: G. Chortareas

A. Papandreou

This course is divided into two sections, the first has a focus on microeconomic theory and the second on macroeconomic theory. The first section covers a selection of topics in advanced microeconomic theory that continue beyond the material covered in the courses: "Microeconomic Analysis of Consumption and Production" and "Microeconomic Analysis of Markets and Social Welfare". The course begins by studying individual choice under uncertainty and the theory of expected utility. It then considers the potential causes of market failure. Section A closes with an introduction to economics of information asymmetry (adverse selection, moral hazard and signalling theory). The second section covers a number of advanced topics in macroeconomics, continuing the material from the second year course on “Macroeconomic Theory”. The objective of the course is to familiarize the students with the modern tools of macroeconomic analysis as applied to theoretical and policy issues. We cover a number of topics on monetary and fiscal policy.

Textbooks

Hal Varian (2006), Intermediate Microeconomics: A Modern Approach.

David Romer (2007) Advanced Macroeconomics

William Scarth (2004) Macroeconomics: An Introduction to Advanced Methods