The objective of this course is to provide students with an introduction to the problems and methods of the economics of information, developed en the last decades to investigate the consequences of the presence of asymmetric information in a variety of economic and political environments. This methodology provides an analysis of the incentive problems present in these settings as well as instruments to investigate the design of contracts and/or institutions that alleviate the inefficiencies caused by asymmetric information. Abilities The course material teaches students how to: - Identify the problems studied by the economic of information in different contexts - The tools provided by this theory to treat and solved the problems associated to the presence of asymmetric information - Evaluate the pros and cons of the alternative mechanisms proposed to deal with these problems - Get familiar with the literature and the basic textbooks that will allow to continue the learning process. Aptitudes The course encourages students to: - Analyze economic problems without prejudices, and with precision and rigor. - Reason critically. - Learn autonomously. - Argue a viewpoint showing its foundation and appreciating the merits of other opinions.

K3: Acquire knowledge of the theories and techniques specific to Economics, employing appropriate terminology and the scientific method. K4: To understand the functioning of the economy as the efficient allocation of scarce resources, including the importance of equity. K6: Comprehend the economic and social impact of various public policies on different agents and in diverse socioeconomic contexts. K7: Understand the economic variables that regulate the economy and govern the behaviour of agents. K8: Understanding economic institutions K10: Understand the fundamental elements of the economic environment from the perspective of different theories and various economic agents. S3: Apply the knowledge acquired in the degree program to rigorously, accurately, and scientifically identify socioeconomic processes and propose potential solutions. S5: Formulate, debate, and defend critical and ethical arguments related to Economics. S6: Identify, collect, interpret and manage relevant information on economic issues, using the appropriate concepts and methodologies of analysis. S7: Design economic and social programs to address the needs of economic agents. S8: Formally representing economic decision-making processes S12: Model and quantitatively interpret specific economic issues C1: Develop interpersonal skills such as initiative, responsibility, conflict resolution, negotiation, etc., which are required in the professional domain. C3: Independently develop and defend a problem within the disciplinary scope of the degree, proposing well-founded solutions through the application of the knowledge, skills, tools, and strategies acquired or developed throughout the degree program. C4: Solve economic models of interest from both theoretical and numerical perspectives.

The program includes the following topics: 1. The Agency Model: Risk Sharing 2. Moral Hazard 3. Competitive Markets with Adverse Selection 4. Adverse Selection in the Agency Model: Screening, Signaling 5. Auctions.

The teaching methodology includes: (1) Master classes, where the student will be introduced to the contents of the course. To facilitate the lecture, the students will have the basic reference texts. This will allow them to complete the topics in deep. (2) Case studies from the economic literature. These cases will be closely related to the specific capacities and skills that the students must develop. (3) Problems resolution. With these problems, the student should be able to self evaluate their knowledge and acquire the necessary skills. (4) Various quizzes during the course. (4) Presentation of team-work.