During the course you will learn to understand the methods, central results, and theories of both experimental and psychological (behavioural) economics, and their relation to other fields of economics, and to microeconomics and industrial organization in particular. The course offers a master-level overview into behavioural decisions, behavioural games, dynamic behavioural decisions, as well as applications thereof.

Doctoral students can also take this course.

The enrolment key is BE2021.

This course offers students the ability to analyze important issues in international economics at the intermediate level. The course consists of two parts. The first part covers international trade. This part deals with the reasons why countries trade with each other, the welfare and distributional effects of international trade, and the consequences of international trade policies. The second part introduces international macroeconomics. It deals with global imbalances, exchange rates, and international macroeconomic policy. The course also discusses recent international trade disputes.

This course shows how micro-economic models can be used to analyse the functioning of markets and industries. We will focus on economic phenomena that are typically studied in the field of industrial organization (IO). The course will cover the following topics: technology and costs of firms, market structure, product differentiation, and network choice, barriers to entry, vertical controls and vertical contracts, markets with intermediaries and platforms, and markets with network effects.

This course presents students the necessary theoretical foundations for subsequent analytical studies of markets, strategic competition and economic implications of entry as well as regulation. It also illustrates how IO models can be used to analyse data on markets outcomes.

The course consists of two parts: The first part introduces various tractable IO models that can be used to carry out analytical studies. The second part consists of assigned readings and student presentations. Students will be asked to read assigned papers and to present them to others in class.

This is an advanced level theory course for research-career oriented master students (research master) and PhD students at Helsinki Graduate School of Economics (Aalto University & Hanken & University of Helsinki). The course studies individual economic decision making from the perspective of formal mathematical decision theory which is a very central building block of microeconomic theory. It rigorously defines the concepts of consistent choice, rational preferences, utility maximization, and studies their connections. It applies these concepts to the rational theory of consumer choice and studies its implications for observed choice patterns. The formal toolkit of decision theory is also extended and applied to model decision making under uncertainty. The concept of risk preference is defined and studied. Theoretical implications for the predicted choice patterns are studied. The participants also participate decision making experiments. They examine experimental and observational data to understand to which extent observed data complies with the predictions of the theories, and how models can be extended to allow for better explaining the data at a cost of making the theory more complex. 

Doctoral students can also take this course.

Kursens syfte är att stöda arbetet med din magisteravhandling. Under kursen får du stöd och individuell handledning för avhandlingsarbetet från den egna handledaren. Du får också feedback och kommentarer från medstuderande när du presenterar det egna avhandlingsprojektet i din seminariegrupp. Kursen innehåller individuella handledningstillfällen och diskussioner i grupp. Under kursen arbetar du dels med det egna avhandlingsprojektet, dels granskar du och kommenterar medstuderandes avhandlingsprojekt.

Läs mera ingående om magisteravhandlingen på webben samt om att skriva avhandling på engelska.

Den svenska och engelska seminariekursen i nationalekonomi ordnas gemensamt. 

The course aims to support the writing of the master's thesis in the major subject. During the course you receive support and individual counseling from your thesis supervisor for producing a thesis. You also get feedback from your co-students when presenting your own master thesis project in your seminar group. The course contains individual counselling and group discussions. During the course you will partly work on your own thesis, partly review and comment your co-student’s thesis projects.

Read more about the master’s thesis on the web.

The course is taught together with the Swedish seminar course in Economics. 

Kursen presenterar grunden i det mikroekonomiska paradigmet som ligger som grund till de mikroekonomiskt inriktade kurserna på ämnes och fördjupad nivå.

Kursen visar hur marknadsefterfrågan kan modelleras utgående från individuella konsumentpreferenser och marknadsutbudet utgående från företagets teknologi och vinstmaximering. Det visas under vilka omständigheter konkurrens mellan företag leder till samhälleligt effektiva utfall, samt hur deviationer från dessa leder till marknadsmisslyckanden och samhälleligt ineffektiva utfall.

Strategiskt företagsbeteende, olika marknadsformer och informationsstrukturer, allmänna nyttigheter, externaliteter och nätverksekonomi presenteras samt vilka slags samhälleliga utmaningar finns kring dessa. Den strategiska interaktionen mellan ekonomiska agenter belyses medelst experiment i klass. Kursen eftersträvar att presentera den mikroekonomiska teorin på ett tillämpningsorienterat sätt.

Kursen kan tas som en del av studiehelheten i företagsansvar

Mikro2669kursbeskrivning.pdfMikro2669kursbeskrivning.pdf

Syftet med kursen är att du producerar en godkänd kandidatavhandling av vetenskapligt och språkligt god kvalitet. Du tränar och utvecklar en förmåga att analysera och lösa problem inom ämnesområdet samt producerar ett skriftligt vetenskapligt arbete. Meningen är också att kursen skall träna din skriftliga och muntliga presentation och argumentation.

Kandidatavhandlingen skrivs på svenska och kräver godkänt mognadsprov. I regel skall mognadsprovet genomgå både sak- och språkgranskning.

Kursen Vetenskapligt skrivande på kandidatnivån (5628-E) rekommenderas starkt att tas parallellt med Kandidatavhandlingen.

How should organisations screen job applicants? Does privacy benefit consumers? And how should governments regulate public transportation companies? Information is crucial in many economic and organizational issues. This course introduces information economics at the intermediate level. The approach is both positive and normative. On the one hand, information economics is used to address positive questions about the rationale behind current business practices and government policies. On the other hand, understanding the trade-offs involved also allows to answer normative questions, such as on how incentives can be shaped to improve outcomes.

This course introduces students with the basics of econometric and data analysis, with special emphasis on causal inference and modern applied micro-econometric methods. The aim of the course is to help students to build and develop skills needed to understand empirical methods that are used in modern applied economic research and to execute their own econometric projects.

The course focuses on the following topics and methods: randomized trials, regression, instrumental variables, regression-discontinuity designs, and differences-in-differences. We also explore a number of applications and discuss briefly a number of other modern micro-econometric approaches. The course also introduces students with econometric and statistical software, Stata in particular, and how it can be used in econometric and data analysis.

This course presents a modern approach to competition economics with an emphasis on selected elements of strategic competition and on European competition policy. The participants are expected to have some knowledge of elementary models associated with the economics of strategy (game theory and oligopoly models). The course will focus on the following issues:

  • the definition of a relevant market
  • horizontal agreements, collusion and the enforcement of cartel laws
  • vertical agreements
  • concerted practices with a particular focus on the exchange of information between competitors
  • evaluations of mergers, in particular horizontal mergers
  • business practices in light of the prohibition to abuse market dominance
  • strategic creation of switching costs and loyalty-enhancing pricing strategies
  • price discrimination with a particular focus on history-based pricing
  • individualized pricing and privacy
  • the relationship between competition policy and sector-specific regulation.

The course is linked to the contemporary legal framework in Europe, but is not a course in competition law. The course will present topical European competition cases and present an overview of the main methods used to evaluate competition policy cases.

The course presents an introduction to the application of strategic arguments as a basis for decision making in business. It prepares students to conduct industry and competition analysis. 

Topics considered include:

  • Management in industries with strategic interaction between firms (oligopoly markets)
  • Merger analysis
  • Strategic delegation
  • Product differentiation and strategic price discrimination
  • Strategic outsourcing
  • Competition with switching costs
  • Dynamic competition
  • The economics of network industries
  • Microeconomic policies: competition policy, technology policy, trade policy and regulation

This course has two parts. The first part deals with microeconomics of financial intermediation. It emphasizes the role of asymmetric information in credit markets. It explores the central theories of financial intermediation and regulation thereof. The second part concentrates on the transmission of monetary policy through the banking system. It first discusses the objectives of monetary and macroprudential policy in the presence of both nominal and financial frictions. It then introduces tools available to central banks and regulatory authorities for achieving these objectives such as the conventional policy rate, quantitative easing and capital requirements. The course will focus on the following issues:

  • adverse selection and moral hazard in credit markets
  • implications of asymmetric information in banking markets
  • relationship lending and bank monitoring
  • screening and the use of collateral in bank lending
  • bank competition and financial stability
  • bank runs, deposit insurance and systemic risk
  • securitization and the subprime crisis
  • the regulation of banks
  • nominal financial and monetary policy
  • the transmission of conventional monetary policy through the banking system
  • unconventional monetary policy, quantitative easing and forward guidance
  • financial frictions and macroprudential policy
  • bank capital regulation

This course aims to provide students with a solid understanding of the modern empirical tools used in empirical industrial economics (EIE) to analyse consumer behaviour, (strategic) behaviour of firms and market outcomes. EIE combines formal economic theory, knowledge of relevant institutions, micro-economic data, sophisticated econometric tools and computer programming to evaluate how markets function and how much market power firms have.

The course covers estimation of static demand (incl. elementary discrete choice models), estimation of marginal costs and mark-ups of firms, basic concept of counterfactual simulation, as well as empirical method to evaluate the firms' product choice. By doing so the course helps the students to develop skills needed to conduct solid analysis in EIE. The methods covered are also widely used in marketing, health economics and international trade. Students learn to implement some of the estimation techniques covered in the course using econometric software Stata.

This course offers students the ability to analyze important issues in international economics at the intermediate level. The course consists of two parts. The first part covers international trade. This part deals with the reasons why countries trade with each other, the welfare and distributional effects of international trade, and the consequences of international trade policies. The second part introduces international macroeconomics. It deals with global imbalances, exchange rates, and international macroeconomic policy. The course also discusses recent international trade disputes.

This is an advanced level theory course for research-career oriented master students (research master) and PhD students at Helsinki Graduate School of Economics (Aalto University & Hanken & University of Helsinki). The course studies individual economic decision making from the perspective of formal mathematical decision theory which is a very central building block of microeconomic theory. It rigorously defines the concepts of consistent choice, rational preferences, utility maximization, and studies their connections. It applies these concepts to the rational theory of consumer choice and studies its implications for observed choice patterns. The formal toolkit of decision theory is also extended and applied to model decision making under uncertainty. The concept of risk preference is defined and studied. Theoretical implications for the predicted choice patterns are studied. The participants also participate decision making experiments. They examine experimental and observational data to understand to which extent observed data complies with the predictions of the theories, and how models can be extended to allow for better explaining the data at a cost of making the theory more complex. 

Doctoral students can also take this course.

This course aims to provide students with a solid understanding of the modern empirical tools used in empirical industrial economics (EIE) to analyse consumer behaviour, (strategic) behaviour of firms and market outcomes. EIE combines formal economic theory, knowledge of relevant institutions, micro-economic data, sophisticated econometric tools and computer programming to evaluate how markets function and how much market power firms have.

The course covers estimation of static demand (incl. elementary discrete choice models), estimation of marginal costs and mark-ups of firms, basic concept of counterfactual simulation, as well as empirical method to evaluate the firms' product choice. By doing so the course helps the students to develop skills needed to conduct solid analysis in EIE. The methods covered are also widely used in marketing, health economics and international trade. Students learn to implement some of the estimation techniques covered in the course using econometric software Stata.

How should organisations screen job applicants? Does privacy benefit consumers? And how should governments regulate public transportation companies? Information is crucial in many economic and organizational issues. This course introduces information economics at the intermediate level. The approach is both positive and normative. On the one hand, information economics is used to address positive questions about the rationale behind current business practices and government policies. On the other hand, understanding the trade-offs involved also allows to answer normative questions, such as on how incentives can be shaped to improve outcomes.

This course introduces students with the basics of econometric and data analysis, with special emphasis on modern applied micro-econometric methods. The aim of the course is to help students to build and develop skills needed to understand empirical methods that are used in modern applied economic research and to execute their own econometric projects.

The course focuses on the following topics and methods: randomized trials, regression, instrumental variables, regression-discontinuity designs, and differences-in-differences. The course also introduces students with econometric and statistical software, Stata in particular, and how it can be used in econometric and data analysis.

Note: This course is lectured simultaneously with the advanced level course, “Applied empirical methods in economics”. Bachelor students should take the intermediate level version (this course, 26030), master students the advanced level version (course code 26031).