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Presentation
Presentation
This course has three main objectives: 1. to harmonize the knowledge related to the fundamental models of microeconomics analysis; 2. explore the applications of Game Theory; 3. to introduce the fundamental concepts of modern behavioural theories.
The first classes are dedicated to the fundamental concepts of microeconomic analysis allowing for a review and harmonization of knowledge.
In a second step, the instruments provided by the “game theory” are introduced, discussing their applications in the analysis of the strategic behaviours.
As for the introduction of behavioural theories, it is intended to confront the student with the new perspectives of behavioural economics. Fundamental concepts are introduced we explore their applications to the individual decision-making process, the relationship between firms in the market and to public decision-making.
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Class from course
Class from course
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Degree | Semesters | ECTS
Degree | Semesters | ECTS
Master Degree | Semestral | 6
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Year | Nature | Language
Year | Nature | Language
1 | Mandatory | Português
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Code
Code
ULHT248-13385
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Prerequisites and corequisites
Prerequisites and corequisites
Not applicable
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Professional Internship
Professional Internship
Não
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Syllabus
Syllabus
1. Review of microeconomy concepts
1.1. Demand, supply and price creation
1.2. Comparative static analysis
1.3. Market structures and the decision of firms
2. Introduction to strategic behaviour
2.1. Decision and strategic
2.2. Introduction to game theory
2.3. Equilibrium in simultaneous and continuous games
2.4. Strategic behavior in markets
2.5. Strategy and information
3. Creating Markets and Auctions
3.1. Types of auctions,
3.2. Efficiency analysis
4. Behavior and rationality
4.1. Limits to rationality and behavioral economics
4.2. Two decision-making processes
4.3. Limited rationality and heuristics
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Objectives
Objectives
Student should apprehend and further deepen the knowledge they have on microeconomic fundamental instruments, game theory application and behavioral theory. After the course they should be able to:
1. Understand the decision-making process by consumers and firms
2. identify strategic situations;
3. identify different models of strategic relations in different scenarios of information and anticipate their results;
4. Identify behavioral models that are important for decision making;
5. Apply theoretical models to real live situations
6. identify decision behavior that deviate from neoclassic economic theory;
use behavior information form the market to define strategic actions
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Teaching methodologies and assessment
Teaching methodologies and assessment
Not aplicable
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References
References
Varian, Hal (2010), Microeconomia Intermédia: Uma abordagem Moderna , 8th ed., Lisboa, Verlag Dashofer (Cap. 28)
Mata, José (2006), Economia da Empresa, Gulbenkian
Dhami, Sanjit (2016), “The Foundations of Behavioral Economic Analysis”, Oxford University Press
Kahneman, Daniel (2014), “Pensar, Depressa e Devagar”, Temas e Debates
Gibbons, Robert (1992), “A primer in Game Theory”, Harvester Wheatsheaf, UK
Fudenberg, Drew and Tirole, Jean (1983), “Game Theory”, The MIT Press, Cambridge Massachusetts
Osborne, Martin (2003), “Introduction to Game Theory”, The MIT Press, Cambridge Massachusetts
Diamond, Peter e Vartiainen, Hannun, ed (2017), “Behavioral Economics and Its Applications”, Princeton University Press
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Office Hours
Office Hours
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Mobility
Mobility
No
