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ECOM-419 Contract Theory, 5 op 
Tunniste ECOM-419  Voimassaolo 01.01.2017 -
Nimi Contract Theory  Lyhenne Contract Theory 
Laajuus5 op   
OpiskelumuotoSyventävät opinnot
  ArvosteluYleinen asteikko 
    Voidaan suorittaa useastiei
Vastuuyksikkö Taloustieteen maisteriohjelma 

Hannu Vartiainen 


Master’s Programme in Economics. Open to other students as well.


Annually in the third period


After the course, the student should

  • Be familiar with the principles of contract theory: the main questions and the useful modelling frameworks 
  • Be able to model real world institutions using the theory of incentives

The course consists of lectures (24 hours) and exercise sessions (4 hours), where solutions to the homework assignments are discussed. The course is completed by a final exam.

Edeltävät opinnot tai edeltävä osaaminen 

Knowledge of the basic concepts of microeconomic theory

Suositeltavat valinnaiset opinnot 

Knowledge of basic analysis is certainly an advantage


The course covers the key areas of incentive theory, information economics and organisation theory, highlighting common themes and methodologies, and presenting the main ideas in an accessible way. Discussed applications include labour economics, industrial organisation and corporate finance. The course outline is as follows: 1. Moral hazard: static one principal, one agent model. 2. Moral hazard in teams and tournaments. 3. Adverse selection. 4. Mechanism design and auctions. 5. Implementation, incomplete contracts, and authority.

Oppimateriaali ja kirjallisuus 

In addition to the lecture slides, required readings include Bolton and Dewatripont (2005), Contract Theory, MIT Press.

Oppimista tukevat aktiviteetit ja opetusmenetelmät 

All material related to the course is delivered through Moodle. It also contains a discussion forum where students can discuss issues related to the course with each other and the teacher.

Arviointimenetelmät ja -kriteerit 

The grade on a scale from 0 (fail) to 5 is based on the final exam. Problem sets are highly recommended but not mandatory.


Meneillään oleva ja tuleva opetus
Toiminnot Nimi Tyyppi op Opettaja Aikataulu
ilmoittautumisaika on päättynyt Contract Theory  Luentokurssi  Hannu Vartiainen  18.01.21 -09.04.21

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