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INFORMATION ECONOMICS

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INFORMATION ECONOMICS

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Academic year 2023/2024

Course ID
SEM0185
Teacher
Daniel Monte (Lecturer)
Year
2nd year
Teaching period
Second semester
Type
Elective
Credits/Recognition
6
Course disciplinary sector (SSD)
SECS-P/01 - economics
Delivery
Formal authority
Language
English
Attendance
Optional
Type of examination
Written
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Sommario del corso

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Course objectives

We will study models of information economics, such as moral hazard, adverse selection and herd behavior. We will cover the formal tools needed to solve these models and we will study applications in Labor Economics, Industrial Organization, Digital Economics, Political Economy, and Public Economics.
 
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Results of learning outcomes

Knowledge and understanding: Students will learn models of strategic behavior in the context of asymmetric information. 

Applying knowledge and understanding: The students will learn the tools of strategic interactions in economic environments, will design simple contracts and mechanisms and will model situations of strategic interactions applied to political economy, international relations, auctions and digital economy. 

Making judgements: The students will be able to evaluate the design and possible outcomes of public policies, international agreements and contracts. 

Communication Skills: Students will be able to clearly communicate ideas and analysis of complex economic concepts. Utilize a new methodology to investigate economic and social interactions, enhancing analytical and communication skills in economic discourse.

Learning skills: Understand the fundamental concepts of information economics. Analyze complex economic problems systematically, organizing various aspects for comprehensive understanding. Illustrate strategic behavior and incentives in economic decision-making scenarios.

 
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Course delivery

The course consists of 48 lecture hours. The classes will cover the theory and several applications. We strongly encourage the students to attend the classes.
 
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Learning assessment methods

 
Closed book written exam. Two hours.
 
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Program

 
Decision under uncertainty
 
Moral Hazard
 
Adverse Selection and Search
 
Screening
 
Signaling
 
Herd Behavior and Social Learning
 
Mechanism Design
 
Auctions
 
Industrial Organization
 
Bargaining
 
Digital Economy and Platforms
 

Suggested readings and bibliography

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The reading will be based on assigned books and slides provided to the students.  Most lectures will consist of a set of slides that will be distributed to the students.                                                                                                   



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