After the course, the student will know how to analyse economic decisions made under uncertainty, will be able to handle problems that involve risk seeking or risk averse behaviour as well as problems that involve cases of imperfect information. Additionally, students will become familiar with game theory to understand and analyse strategies employed by firms or individuals.

-Uncertainty, risk and reward
-Welfare theory: efficiency and justice
-Strategic behaviour and game theory
-Imperfect information

1. Material mentioned during lectures.

2. Cowell, Frank (2018): Microeconomics - Principles and Analysis, 2nd edition. Oxford University Press. (chapters 8-11; the 1st edition can also be used)

3. Aliprantis, Charalambos D. & Chakrabarti, Subir K. (2000): Games and Decision Making. Oxford University Press. (only applicable parts; later editions can also be used)

The study module consists of two courses 5 ECTS per course. Courses are lectured in teaching periods 1 and 2 (autumn semester 2018). The first part is compulsory for all. Students majoring in economics must take both of the courses.

(Some places for master level exchange students majoring in economics. A lot of previous studies in microeconomics, macroeconomics and mathematical economics is required.)

The first course exam: Thu 29.11. at 10 - 12 in päätalo D13. No need to sign up.
The second course exam: Tue 4.12. at 10 - 12 in Pinni B4115. No need to sign up.