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65937-01 - Lecture: Advanced Microeconomics (6 CP)
| Semester | fall semester 2026 |
| Course frequency | Every fall sem. |
| Lecturers |
Georg Nöldeke (georg.noeldeke@unibas.ch, Assessor)
Cédric Wasser (c.wasser@unibas.ch) |
| Content | This course covers four of the topics at the core of modern microeconomic theory: 1. Consumer Theory. We first review the basic microeconomic model of individual decision making in the context of consumer choice, which models demand as a solution to a utility maximization problem, where utility in turn is viewed as a representation of preferences. In applications of consumer theory to fields such as industrial organization and marketing it is often essential to allow for some element of randomness in choice behavior. Hence, this part of the course will also offer an introduction to the kind of stochastic choice models considered in such applications. 2. General Equilibrium Theory. While partial equilibrium theory acknowledges that changes in the price of one good or service will have effects on the equilibrium prices of other goods or services, it does not formally investigate how market clearing conditions interact across different markets to determine competitive equilibrium prices (and their efficiency properties) for a system or markets. Doing so is the purpose of general equilibrium theory. This part of the lecture uses the example of an exchange economy to introduce some of the main themes and results of general equilibrium theory. 3. Social Choice. Social choice theory studies collective decision making, i.e., how individual opinions of members of a society can be combined (e.g., by voting) to reach a decision or a ranking of alternatives. This part of the course introduces the basic concepts and covers Arrow’s impossibility theorem, the Gibbard-Satterthwaite theorem, and single-peaked preferences. 4. Auctions and Mechanism Design. Which procedure should a seller use to maximize her revenue from selling a good? Should she simply post a price? Bargain? Run an auction? This part of the course introduces some of the tools from the theory of mechanism design that economists have developed to answer these and related questions. In doing so, we pay special attention to auctions as these can be used to both motivate and illustrate the theory. |
| Learning objectives | Students understand the logic of microeconomic models and know important concepts and results relating to the four topics considered in the course. This prepares students to conduct further, independent studies of microeconomic theory as is required for (a) understanding the various elements of microeconomic theory that appear in almost all fields of economics or (b) writing a master thesis in microeconomic theory. |
| Bibliography | Chapters 1, 2, 5, 6, and 9 of the textbook «Advanced Microeconomic Theory» by Geoffrey Jehle and Philip Reny cover most of the content of the course at an appropriate level. Further references to relevant readings will be provided in the syllabus posted to ADAM at the beginning of the semester. |
| Admission requirements | While there are no formal prerequisites, the course presumes the ability and willingness to engage with mathematical arguments at the level appropriate for students majoring in Economics within the MSc in Business and Economics. Consequently, it is strongly recommended that students take 18545-01 Advanced Mathematics for Economists before attending this course. The two mathematical appendices in the textbook «Advanced Microeconomic Theory» by Geoffrey Jehle and Philip Reny provide a good review of the mathematical concepts most relevant for this course. Prior exposure to the material covered in 10134-01 Intermediate Micreconomics is advantageous but not presumed. |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 08.15-10.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
| wöchentlich | Thursday | 08.15-10.00 | Wirtschaftswissenschaftliche Fakultät, Seminarraum S15 HG.31 |
Dates
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) Module: Core Competences in Economics (Master's Studies: Sustainable Development (Start of studies before 01.08.2026)) Module: Core Courses in Business and Economics (Master's Studies: Business and Economics) Module: Core Courses in Economics (Master's Studies: Business and Economics) Module: Field Electives in Economics and Public Policy (Master's Studies: Economics and Public Policy) Module: Selected Subjects of Economics and Jurisprudence (Master's Studies: Actuarial Science) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in Economics (Master's Studies: Business and Economics) Module: Specific Electives in Finance, Controlling, Banking (Master's Studies: Business and Economics) Module: Topics and Methods in Sustainable Development: Economics and Management (Master's Studies: Sustainable Development) |
| Assessment format | record of achievement |
| Assessment details | Written examination: |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |