Advanced Contract Theory OpenCourseWare: A Free MIT Graduate Level Class on Contract Theory

Published Mar 18, 2009

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The Massachusetts Institute of Technology (MIT) offers this free OpenCourseWare on contractual agreements between players in an economy. 'Advanced Contract Theory' presents examples of models and games illustrating how economic actors make decisions when interacting with each other. This course is recommended for students with previous experience with contract economics and microeconomic theory.

Advanced Contract Theory: Course Specifics

Degree Level Free Audio Video Downloads
Graduate Yes No No Yes

Lectures/Notes Study Materials Tests/Quizzes
Yes Yes No

Advanced Contract Theory: Course Description

How people come to business agreements with each other is an important issue in the field of economics. Economists create theories and models to predict how factors like moral hazard, asymmetrical information and adverse selection influence the behavior of economic actors. This OpenCourseWare from MIT offers students further education on these concepts. Notes are available from Professor Sergei Izmalkov's lectures on Bayesian games, mechanism design and auctions. The notes cover multiple types of auctions, such as first-price, all-pay and Vickrey auctions, and describe the effect of different auction's rules on bidder behavior. Later lectures address static and dynamic models of buyer and seller behavior. This material can benefit students studying for a Master of Science in Economics.

A list of recommended readings and references, lecture notes and sample homework are offered with this class. To find out more about this branch of economics, visit the contract theory course page.

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