Credits: 3 (3-0-0)
Prerequisites: For HES students (M.Sc. in Economics)— Completion of core courses. Not allowed to take this courses in the first year. For UG students—HUL212
Description
The course aims to formalize microeconomic treatment of decision- making by economic agents. It will encompass consumer’s choice problems, rationality theory and also bounded rationality theory. The course will conceptualize behavioural aspects of firm’s decision- making- non-cooperation strategies and cartel formation would be discussed with respect to various market structures. Basic ideas of auction models would also be discussed and reference would be made to e-auctions and spectrum (or natural resource) auction markets. Latest developments in social and economic networks would be introduced and behavioural underpinnings would be discussed.