Course Details
Country:
France
Institution:
Sciences Po - Paris campus
Course Title:
MICROECONOMICS: INFORMATION, DESIGN AND INSTITUTIONS
Course Number:
AECO 25A11
Course Description:
This course studies the design of institutions that optimally cope with fundamental, longstanding economic questions (allocation of private goods, public good provision, trade). We start from a simple, institution-free description of each question, try to understand the basic tensions at work, and derive institutions that optimally address these tensions. In the process, we introduce the important ideas of social choice, game theory, and market design. The course is divided into four parts: 1. Social Choice, Efficiency and Welfare: We discuss normative criteria to evaluate collective choices made by a society comprised of individuals with possibly conflicting preferences (e.g. unanimity, not ruling out any preferences, not being dictatorial), and show that it is impossible to create institutions leading to choices that always satisfy even a minimal list of criteria. Next we introduce the possibility of pecuniary transfers to compensate individuals for social choices that harm them. We discuss when such transfers
Language:
English
Approved Equivalent:
ECON 3---
Attachment Files:
