Browse Hierarchy ECN211: Microeconomics II

This module studies general equilibrium in competitive markets, market failure, and information economics. You will be shown how to find a set of prices that clear multiple markets simultaneously, both in exchange economies and in economies with production, and you will investigate the welfare properties of such equilibria. You will then analyse the consequences of consumption and production externalities, as well as the provision of public goods. Finally, you will examine the effects of information asymmetries; including adverse selection, moral hazard, and market signalling.