Main Content

Theoretical Institutional Economics
(Contract Theory)

This summer term, all microeconomics courses will be taught online with prerecorded material. If you signed up for the courses, you get access to the course material through ILIAS. We will inform you about all relevant dates by email.

Learning Objectives

Information asymmetries characterise most economic interactions and are a severe impediment to efficient trading. The course analyses the most important forms of information asymmetries. At the end of the term participants will be familiar with these forms and solution concepts to mitigate inefficiencies.

Content

1. Introduction
2. Basic model
3. Moral hazard
4. Adverse selection

Lecture and Tutorial

Credits

6 ECTS can be earned by taking a 120-minute written exam at the end of the term. Dates will be provided in due course by the examinations office.

Modules:

Master Economics and Institutions: Theoretical Institutional Economics (Institutional Economics)

Material

All course material is exclusively provided through the online learning system ILIAS.
By entering the MARVIN-course after March 22nd you will get access to the ILIAS course. Please refrain from asking for passwords via phone or email.

References:

Macho-Stadler, Inez and Perez-Castrillo, David: An Introduction to the Economics of Information, 2nd ed., Oxford, 2001.

Further Information