Bachelor 2024/2025

Applied Market Design

Type: Elective course (Economics)

Area of studies: Economics

Delivered by: Department of Theoretical Economics

Where: Faculty of Economic Sciences

When: 4 year, 3 module

Mode of studies: offline

Open to: students of one campus

Instructors: Oleg Baranov

Language: English

ECTS credits: 3

Contact hours: 36

Course Syllabus

Abstract

The class offers an introduction to market design, providing students with a broad overview of issues related to the design and analysis of market mechanisms. It defines a market as a demand and a supply, without specifying a price system or mechanism. This allows to analyze a broad set of situations (including such unconventional markets as college admissions and organ donation) and forces students to pay attention to details that might otherwise be overlooked. Students often complain that microeconomics is too abstract and disconnected from reality; the study of market design shows how theory can help solve existing, real-life problems (i.e., "economist as engineer" approach). The class focuses on the interplay between theory and applications. To keep the class accessible to undergraduate students, special effort is made to minimize formal description of the models while emphasizing the intuition, with detailed explanations and resolution of examples.