Module Information

Module Identifier
EC31020
Module Title
ADVANCED TOPICS IN MICROECONOMICS
Academic Year
2009/2010
Co-ordinator
Mr Dennis A Thomas
Semester
Semester 1
Pre-Requisite
EC30220

Course Delivery

Delivery Type Delivery length / details
Lecture 20 hours
Seminars / Tutorials 5 one hour seminars
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 3 Hours   80%
Semester Assessment Class assignment  20%
Supplementary Exam 3 Hours   100%

Learning Outcomes

On completion of this module, students should be able to:

* Demonstrate an understanding of the analysis of choice under uncertainty

* Demonstrate an understanding of the analysis of social choice and efficiency

* Demonstrate an understanding of game theoretic concepts

* Employ the methodology of game theory to analyse strategicbehaviour in various contexts

* Demonstrate an understanding of the analysis of bilateral bargaining and negotiation in various contexts

* Demonstrate an understanding of the form and implications of asymmetric information in market situations

* Demonstrate an understanding of potential solutions to the problems of adverse selectin and moral hazard

Brief description

This module treats a variety of advanced topics in theoretical and applied microeconomics, relating to choice under uncertainty, strategic decision making, and asymmetric information. It enables the incorporation of an increased theoretical core within the identified degree schemes providing the opportunity to better match content with benchmark guidelines. The module will selectively identify influential theoretical work from the major academic journals, introducing students to a range of research methods that will facilitate development of advanced analytical and research skills.

Content

  • Choice under uncertainty
  • Social choice and efficiency
  • Game theoretic solution concepts for non-cooperative games
  • Incomplete information and irrationality
  • Repeated play: cooperation and reputation
  • Bilateral bargaining and negotiation
  • Moral hazard and incentives
  • Adverse selection and market signalling

Module Skills

Skills Type Skills details
Application of Number Treatment of numerical problems in tutorial exercises, in assignment and examination.
Communication During tutorial class discussion and presentation.
Improving own Learning and Performance In preparation for, attending and participating in and reflecting on tutorial classes. Preparation and production of assignment, and regision and preparation for the final examination.
Information Technology Appropriate accessing of the internet for reference material. Accessing course information and documents from Blackboard, and use of word-processing skills for the assignment.
Personal Development and Career planning Development of various personal and interpersonal skills, generally transferable in career terms, including initiative, independence and self-awareness - in addition to skills listed above.
Problem solving Treated in lectures and applied in tutorials
Research skills Obtaining, selecting, assimilating information from a variety of sources for use in tutorials, and production of notes and expanding on lecture material.
Subject Specific Skills Application of models and ability to think in the abstract.
Team work Group oriented tutorial tasks.

Reading List

Recommended Text
Carmichael, Fiona. (2005.) A guide to game theory /Fiona Carmichael. Financial Times Prentice Hall Primo search Gibbons, Robert (1992.) A primer in game theory /Robert Gibbons. Harvester Primo search Kreps, David M. (1990.) A course in microeconomic theory /David M. Kreps. Harvester, Wheatsheaf Primo search

Notes

This module is at CQFW Level 6