Advanced Topics in Microeconomics

Academic unit or major

Graduate major in Industrial Engineering and Economics

Instructor(s)

Takehiko Yamato / Hirohumi Yamamura

Class Format

Lecture (Face-to-face)

Media-enhanced courses

-

Day of week/Period
(Classrooms)

5-8 Thu

Class

-

Course Code

IEE.B431

Number of credits

200

Course offered

2024

Offered quarter

4Q

Syllabus updated

Mar 14, 2025

Language

Japanese

Syllabus

Course overview and goals

　　This course provides lectures on classical models in microeconomic theory to students having basic knowledge on microeconomics. First, we explain the frameworks of models, notions and mathematical formulations, and how to use them in analyzing the models. Theorems derived from the models consist of assumptions and conclusions. We give a lecture on how a conclusion is derived from assumptions (that is, a proof). The models covered in this course include the general equilibrium model, the imperfect competition model, and the social choice model.
　　This course aims to enable students to understand and acquire meanings, theoretical structure, and implications of important theorems on classical microeconomics. By combining lectures and exercises, the course also teaches students logical operations in economics.

Course description and aims

At the end of this course, students will be able to:
1) Analyze the Arrow–Debreu–McKenzie model of an economy.
2) Explain and prove the fundamental theorems of welfare economics in production economies.
3) Explain and prove theorems on the existence of competitive equilibrium in production economies.
4) Analyze the model of imperfect competition.
5) Analyze the model of social choice theory.

Keywords

The Arrow–Debreu–McKenzie Model of an economy, the fundamental theorems of welfare economics and the existence theorems of competitive equilibrium in production economies, the theory of imperfect competition, and social choice theory

Competencies

• Specialist skills
• Intercultural skills
• Communication skills
• Critical thinking skills
• Practical and/or problem-solving skills

Class flow

At the beginning of each class, solutions to exercise problems that were assigned during the previous class are reviewed. Towards the end of class, students are given exercise problems related to the lecture given that day to solve. To prepare for class, students should read the course schedule section and check what topics will be covered. Required learning should be completed outside of the classroom for preparation and review purposes.

Course schedule/Objectives

Study advice (preparation and review)

To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.

Textbook(s)

No textbook will be set. Course materials will be distributed.

Reference books, course materials, etc.

Course materials will be distributed.
Arrow, K. J. (1951,1963), Social Choice and Individual Values, Yale University Press.
Mas-Collel, A., M.D. Whinston, and J.R. Green, Microeconomic Theory, Oxford University Press, 1995.
Nishimura, Kazuo, "Microeconmics," Tokyo Keizai Shinpou-sya, 1990. (Japanese)

Evaluation methods and criteria

Students' knowledge of the fundamental theorems of welfare economics and the existence theorems of competitive equilibrium in production economies, the theory of imperfect competition, and social choice theory, and their ability to apply them to problems will be assessed by exams and exercise problems.

Related courses

• IEE.B401 ： Advanced Microeconomics
• IEE.B403 ： Advanced Noncooperative Game Theory
• IEE.B404 ： Advanced Cooperative Game Theory
• IEE.B433 ： Advanced Topics in Mathematical Economics

Prerequisites

Students must have successfully completed Advanced Microeconomics or have equivalent knowledge.