AES 901

Advanced Microeconomic Theory, Analysis and Applications

Consumer theory, Indirect utility, expenditure function and duality theory, revealed preference, measurement of household welfare due to price changes, consumer behavior under rationing, production and cost function, profit function and duality; theory of the firm and modeling, game theory, theory of market structure, Economics of regulation and deregulation, Economic choice under uncertainty, equilibrium analysis, review of methodology for economic analysis: direct and indirect functions; primal-dual approach; distance function; Static Econometric Models with Risk Aversion and Risk Neutrality; Models of Price Transmission, Time Series/Cointegration Models of Vertical and Spatial Price; Models of Choice in Dynamic Settings. Special topics in consumer theory such as labour supply, household production and intra-household allocation and welfare.


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