In case of conflicting information consider the Sisu/Courses/Moodle pages the primary source of information.

The course deepens the theory and analytical skills provided by course AGERE-E01. The first part of the course focuses on economics of uncertainty and introduces the concepts of risk-aversion, prudence, value of information, precautionary principle and optimal experimentation. The second part of the course introduces economics of information, where the policy maker is less informed than the regulated firms or individuals. We learn how to design contracts, negotiations, green auctions and mechanisms under information constraints. Throughout the course, we will supplement the theoretical models with numerical examples and empirical studies.

  • Completion method: contact teaching
  • Schedule: can be found in Courses Page and Sisu
  • Study materials: can be found in Moodle
    • A link and a Moodle course key will be sent by email before the course starts and/or they will be provided on the Courses page: you can view the information on this site without logging in or registering, but some of the content added by teachers to course pages may be available to course participants only, for example Moodle course enrolment key.
    • Log in with your UH username to be able to use all the features of the course workspace

Please register for the course in the UH Sisu with your UH username. Further instructions (link to be added here later).

    • Code: no equivalent code

    • Target groups: MSc / rMSc / PhD

    • Credit points: 5

    • Credit transfer: apply for inclusion in Sisu

    Further instructions (link to be added here later)

    • Code: 26075

    • Target groups: MSc / rMSc / PhD

    • Credit points: 5

    • Credit transfer: apply for substitution in Sisu

    Further instructions (link to be added here later)

    • Code: AGERE-E02

    • Target groups: MSc / rMSc / PhD students: please contact your supervisor/program director to be sure that the course credit can be counted towards your degree

    • Credit points: 5

    • Please contact your supervisor/program director to be sure that the course credit can be counted towards your degree

    • Credit transfer: please apply for credit transfer according to your home university’s procedures

    Further instructions (link to be added here later).

After completing the course, the students understand how to systematically think the solution to environmental problems under uncertainty, and how to design incentive schemes for effective environmental problem under private information. The students will learn to formulate, analyze and interpret economic models of uncertainty and private information, such as moral hazard, adverse selection, auctions and mechanism design.