Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


After completing Microeconomic Theory II, the student should understand the connections between individual preferences and societal outcomes in the case of centralized mechanisms such as the Gale-Shapley algorithm in matching markets and the decentralized price mechanism in competitive markets. The student should also be able to construct and analyze different models of collective choice and market behavior and relate the stylized models covered in the course to more complex real life economic settings.

Credits: 5

Schedule: 31.10.2022 - 19.12.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Juuso Välimäki

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    Part II of the Ph.D. and research master sequence in microeconomic theory is an introduction to collective decisions and market institutions. The emphasis in the course is on analytical concepts used in assessing societal decisions. Efficiency and stability are key ideas that recur during the course. Different economic institutions in diverse economic models are analyzed using these concepts and stability. The course builds directly on Microeconomic Theory I and it is essential that the students have a good understanding of decision theory and classical consumer theory. Some connections to strategic decision making covered in Microeconomic Theory III are mentioned, but the course does not assume any prior knowledge of game theory.

    The central topics in the course include: Social Choice Theory, Assignment Models, Matching Models, and General Equilibrium Theory.


Substitutes for Courses
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    Helsinki GSE course. More information on the course in HSGE study guide:
    Registration in Sisu. 

    Teaching Language : English

    Teaching Period : 2022-2023 Autumn II
    2023-2024 Autumn II