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ECOM-419 Contract Theory, 5 sp 
Kod ECOM-419  Giltighet 01.01.2017 -
Namn Contract Theory  Förkortning Contract Theory 
Omfattning5 sp   
UndervisningsformFördjupade studier
  BedömningAllmän skala 
    Kan genomföras flera gångernej
Ansvarig enhet Magisterprogrammet i ekonomi 

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
Studieavsnittets form 

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.

Tidigare studier eller kunskaper 

Knowledge of the basic concepts of microeconomic theory

Rekommenderade valfria studier 

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.

Studiematerial och litteratur 

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

Aktiviteter och undervisningsmetoder som stöder lärandet 

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.

Bedömningsmetoder och kriterier 

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


Pågående och framtida undervisning
Funktioner Namn Typ sp Lärare Tid
anmälningstiden avslutad Contract Theory  Föreläsningskurs  Hannu Vartiainen  18.01.21 -09.04.21

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