Course detail

LES5801 - Microeconomics III


Credit hours

In-class work
per week
Practice
per week
Credits
Duration
Total
6
2
8
10 weeks
120 hours

Instructor
Joaquim Bento de Souza Ferreira Filho

Objective
The course aims to extend the basic concepts of neoclassical microeconomic theory,
adding to the analysis the details necessary for applied studies. The course will be organized in the form
of deepening topics mainly in Consumer Theory, and adding recent developments in microeconomics,
especially and adding recent developments in microeconomics, especially in Asymmetric Information
Theory and Theory of Asymmetric Information and Contracts.

Content
Limits to Choice, Preference and Demand and Extensions to the Basic Model. 2.preferences. The Cost
Function approach. Separability and Aggregation. Welfare and consumer behavior.Welfare and consumer
behavior: Consumer Price Indices. 5. 5. household characteristics and demand. 6.Quality of goods and
Household Production Theory. 7. labor supply. 8.ehavior under uncertainty. The expected utility
function. Contracts and Incentives, Expensive Monitoring. 9.Monitoring. 9. Markets with Imperfect
Information.

Bibliography
Deaton, A; Muellbauer, J. Economics and Consumer Behavior. 1991. Pollak, R. and T. Wales Demand
System Specification and Estimation, New York, Oxford University Press. 1992. Silberberg, E. The
Structure of Economics. 3rd edition, 2001. Varian, H. Microeconomic Analysis. 3rd edition. 1992.
Snyder, C; Nicholson, W. Microeconmic Theory: basic principles and extensions. South-Western &
Thomson Learning, 2008. 10th Edition.