Microeconomics studies the workings of individual markets. That is, it examines the interaction of the demanders of goods and services with the suppliers of those goods and services. It explores how the behavior of consumers (demanders), the behavior of producers (suppliers), and the level of market competition influence market outcomes.

Game theory uses a mathematical approach to study situations of strategic interdependence, i.e., situations with two or more players in which each player's decision influences payoffs of other players and players are aware of this fact when making their decisions. Game theory has been applied to understand diverse economic, political and biological phenomena. We will study how to formulate situations of strategic interdependence as game theoretic models; how to explain/predict behavior of the parties involved, through the use of various equilibrium concepts; and/or identify guidelines for appropriate behavior. The concepts and methods will be illustrated with many examples. The objective is to introduce you to language of game theory and its methodology, and to develop analytical reasoning skills.

Over the past few decades, Experimental and Behavioral Economics have become two of the fastest growing and exciting fields of economics. This course will provide students with an introduction to many interesting concepts in both fields. In doing so, students will learn how experimental methodology can be used to provide insights about economic behavior in the areas of market exchange and strategic decision making. Additionally, students will be exposed to interesting topics in Behavioral Economics including: biases and heuristics, decisions under risk and uncertainty, inter-temporal choice, social preferences, bounded rationality, and learning. The concepts and methods covered in this course will be primarily illustrated by presenting recent experimental and theoretical studies, running in-class experiments, and by participating in group projects.