This course is a rigorous treatment of microeconomic theory making extensive use of mathematical tools, including differential calculus and constrained optimization. Topics discussed include public choice, risky assets, game theory, welfare, law and economics.

CILO-1: Analyze and interpret statistical data related to microeconomic decision-making, including identifying trends and patterns in data sets and making informed conclusions based on statistical analysis. CILO-2: Apply choice under uncertainty principles to real-world scenarios, including decision-making under risk, ambiguity, and uncertainty, and evaluate the impact of risk aversion, probability weighting, and other factors on decision outcomes. CILO-3: Evaluate strategic interactions between economic agents using game theory tools, including analyzing the impact of cooperation, competition, and strategic behaviour on outcomes, and identifying Nash equilibrium solutions. CILO-4: Analyze principal-agent problems in various settings, including identifying the incentives and information asymmetries that arise between principals and agents, and developing mechanisms to mitigate adverse selection and moral hazard.