Advanced Microeconomics

Coordinator: Prof. dr. J.L. Moraga Gonzalez

Lecturers: Prof. dr. J.L. Moraga Gonzalez, Zichen Deng

  • Jose Luis Moraga
    Jose Luis Moraga
Jose Luis Moraga


Personal website

Fields: markets & organizations, applied micro, micro

ImageJosé L. Moraga (PhD University Carlos III Madrid) is professor of microeconomics. Before moving to the department of economics, he worked at IESE Business School, University of Groningen, Erasmus University Rotterdam and University of Copenhagen. He received a Marie Curie Research Training Grant in 1998, and a Marie Curie Excellence Grant in 2007. He is associate editor of the Journal of Industrial Economics, International Journal of Industrial Organization and the Spanish Economic Review. He is research fellow of the Tinbergen Institute, CEPR, CESifo, SOM, CERRE and the Private-Public Sector Research Center (PPSRC) of the IESE Business School.

Research interests:

information frictions in consumer and labor markets, search and advertising models
intermediation, two-sided markets,
R&D networks
Energy economics, gas markets

Classes taught:

BSc: Microeconomics, Industrial Organization, Regulation and Competition Policy
Msc / PhD: Game Theory, Information Economics, Industrial Organization

Selected recent publications

“Prices and Heterogeneous Search Costs” (joint with Sandor, Z. and M.R. Wildenbeest), The Rand Journal of Economics, forthcoming

“R&D Networks” (joint with S. Goyal), RAND Journal of Economics 32-4, 686-707, 2001.

“Strategic Pricing, Consumer Search and the Number of Firms” (joint with M. Janssen), Review of Economic Studies 71, 1089-1118, 2004.

“Competing for attention in a consumer search model” (with M. Haan), The Economic Journal 121, 552-579, 2011.

“Consumer Search Costs, Demand-side Economies and the Incentives to Merge under Bertrand Competition” (with V. Petrikaite), RAND Journal of Economics 44-3, 391-424, 2013.

“Structural Estimation of Search Intensity: Do Non-employed Workers Search Enough?” (joint with P. Gautier and R. Wolthoff), European Economic Review, forthcoming.


Founder of the annual Workshop on Search and Switching Costs (WSSC)
Fellow and occasional contributor to the discussion papers on energy economics (CERRE, Brussels)
Speaker at the JRC/CNECT Workshop on The Economics of online platforms and potential policy implications – DG CNECT, Brussels


Course objective

This course prepares the theoretical groundwork for microeconomic policy courses elsewhere in the MSc Economics curriculum, highlighting traditional economic approaches, their normative foundations, and recent theories of information economics. Goal of the course is to make the student steadfast in applying fundamental concepts of microeconomic theory at an advanced level.

By the end of the course the student will:

– be familiar with the main, unifying microeconomics principles, and know how to analyze microeconomic problems using mathematical tools
– know the main concepts of consumer choice and firm behavior, and their relevance for equilibrium and welfare analysis
– be able to evaluate economic policy with regard to efficiency and equity and know of the limitations to economic policy
– know of modeling aspects from the economics of information and incentives and be familiar with basic features of efficient contracts under incomplete information
– know of possibilities and limitations to mechanism design in applied policy fields, such as auctions and matching.

Course content

This course focuses on modeling and requires substantial math skills (in particular calculus). Traditional topics (part I) include the theory of the firm, consumer choice and demand, partial and general equilibrium analysis and aspects of market failure. Part II covers risk and insurance under symmetric and asymmetric information, concepts of game theory, as well as the economics of information and incentives.
Using problem sets and exercises will increase and deepen understanding and help broaching a large number of microeconomic policy fields, such as concepts and measurement of household welfare, issues of taxation and social policy, and policy design of market institutions. Policy applications in themselves are not subject of the current course, but rather their preparation.

Course reading

Lecture notes and articles (details: t.b.a.); every student should have at hand a copy of Snyder and Nicholson, Microeconomic Theory: Basic Principles and Extensions, 11th ed., that serves as core background

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