Online Course Guide of WHU –

Find all modules and courses of our degree programs.

Please use the filters below to select the term (spring or fall) as well as the respective program (BSc, MSc, MBA, Exchange, Doctoral) of your choice for an overview of all modules offered at WHU. The courses are listed under the modules. Please click on a module to see which courses are part of it. If you would like to find out more about a certain course, click on the name of the course to see detail information. The location of the lecture will be reveiled after your course registration on myWHUstudies.

Spring term counts from January - August, fall term counts from September - December.

Important for Exchange Students: As the Full-Time and Part-Time MBA Programs utilize a modular course structure, the dates on which students begin and end the exchange are flexible. Please find here a chronological overview of the preliminary course offering for Spring and Fall.

Spring 2019  ›  Bachelor of Science  ›  Bachelor of Science - 2nd Semester  ›  Microeconomics

Microeconomics II: Market Imperfections and Strategic Interaction, Group B-C2

Market economics are inspired by the idea of decentralized decision making: Each individual pursues independently its own goals, but an "invisible hand" in the market interaction ensures an overall desirable outcome. Students will learn, how this "invisible hand" works in competitive markets and why and in which respect the outcome is socially optimal. While perfect competition is useful as a rigorous foundation for why often it is the case that transactions are best organized via markets, in reality there are many deviations from this benchmark case. We discuss the most important ones, namely (1) market power (using the core instrument of (micro-) economics, namely game theory, (3) externalities and public goods, and (3) asymmetric information,

Course Code:
Dr. Tim Thomes
Course Type:
BSc Course
Week Hours:
Spring 2019
(Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.)
1. Interactions in many markets: General equilibrium
2. Welfare economics: The two fundamental theorems of welfare economics
3. Market power: Oligopoly (Cournot, Bertrand)
4. The toolbox for analyzing strategic interaction: Game theory (concepts, Nash equilibrium, dominant strategies, mixed strategies, strategic complements and substitutes)
5. Asymmetric information (Adverse selection, moral hazard)
6. Externalities and public goods
11:30 AM till 03:15 PM
Monday, 28/01/2019
11:30 AM till 03:15 PM
Monday, 11/02/2019
11:30 AM till 03:15 PM
Standard micro theory and game theory
Robert S. Pindyck, Daniel L. Rubinfeld, Microeconomics, 6th Edition, Pearson-Prentice Hall (2005)

Secondary literature:

Will be announced during the course
Final Exam (100%)
Microeconomics I, Mathematics I