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This course is a continuation of earlier course in microeconomics. While the earlier course mainly covers basic price theory and market efficiency, this course will mainly focus on market failures such as market power, uncertainty, asymmetric information, externalities and public goods, and analyze whether or not the basic properties of competitive markets continue to hold. This course also covers an introduction of game theory and its application.
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1. Introduction, review of perfect competition
2. Monopoly, price discrimination
3. Second-degree price discrimination
4. Introduction to game theory, strategic form game, Nash equilibrium
5. Extensive form game, subgame perfect equilibrium, backward induction
6. Midterm
7. Oligopoly, Quantity competition, Cournot equilibrium
8. Stackelberg equilibrium
9. Price competition, Bertrand equilibrium
10. Product differentiation
11. Collusion
12. Decision making under risk, expected utility, attitude toward risk
13. Moral hazard, Principal-agent model
14. Optimal wage contract
15. Review, Final Exam
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・You will be able to understand why market failures may arise.
・You will be able to understand basic knowledge of game theory and its application.
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Attendance 10%, homework 20%, midterm 30%, final 40%.
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【成績評価の基準表】
| 秀(S) | 優(A) | 良(B) | 可(C) | 不可(F) |
| 履修目標を越えたレベルを達成している | 履修目標を達成している | 履修目標と到達目標の間にあるレベルを達成している | 到達目標を達成している | 到達目標を達成できていない |
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履修目標：授業で扱う内容（授業のねらい）を示す目標
到達目標：授業において最低限学生が身につける内容を示す目標
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The course is taught by lecture. Lecture notes will be handed out in class.
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Imperfect competition, moral hazard, expected utility, game theory
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