Advanced Economic Analysis
Code: ECO301
Lecturers: Andreas Papandreou, George Chortareas
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 Theory I and II". The course begins by studying individual choice under uncertainty and the theory of expected utility. It then covers aspects of the economics of information (adverse selection, moral hazard and signaling theory). It also introduces behavioral economics.
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. A number of topics on monetary and fiscal policy are covered.
Indicative course structure
1. Measurable utility functions, expected utility theory, risk aversion.
2. Asymmetric information: adverse selection, moral hazard, and mechanism used to address these market failures.
3. Behavioral economics
4. Modern business cycle theories
5. Inflation and monetary policy
6. Fiscal policy and deficits
Textbooks:
Section a: Microeconomic Analysis
Walter Nicholson, Christopher Snyder (2018) Microeconomic Theory: basic principles and extensions, Greek edition.
Hal R. Varian (2015) Microeconomics: a modern approach, Greek edition
Section b: Macroconomic Analysis
David Romer (2007) Advanced Economics, Greek edition
William Scarth (2004) Macroeconomics: an introduction to advanced methods, Greek edition.
