ECO3001 : Advanced Microeconomics
ECO3001 : Advanced Microeconomics
- Offered for Year: 2024/25
- Module Leader(s): Dr Francis Kiraly
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Pre-requisite
Modules you must have done previously to study this module
| Code | Title |
|---|---|
| ECO2101 | Microeconomic Analysis |
Pre Requisite Comment
Module Leader will approve registrations from Study Abroad students
Co-Requisite
Modules you need to take at the same time
Co Requisite Comment
N/A
Aims
Semester 1 aims: To introduce the method of game theory and to analyse key institutions of exchange that involve strategic behaviour.
Semester 2 aims: To extend the analysis to allocation mechanisms that arise in situations characterised by asymmetric information.
Outline Of Syllabus
1.Game Theory
2.Exchange and efficiency
3.Competitive price mechanism
4.Bargaining
5.Asymmetric information and contracts
6.Auctions
7.Search and matching
8.Assignment
Learning Outcomes
Intended Knowledge Outcomes
1. Knowledge of the game theoretical method as applied in economic theory.
2. An understanding of the major allocation mechanisms present in market economies: price system, bargaining, implicit and explicit contracts, search, matching, assignment and auctions.
3. An awareness of the impact of market power, trade frictions and asymmetric information on economic behaviour and market outcomes.
Intended Skill Outcomes
1. Ability to capture and analyse a wide range of situations characterised by strategic interaction.
2. Ability to conduct equilibrium analysis and to characterise the efficiency properties of market outcomes under different conditions.
3. Ability to undertake further formal analysis in other areas of economics; enhanced written communication and numeracy skills
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Guided Independent Study | Assessment preparation and completion | 1 | 60:00 | 60:00 | N/A |
| Scheduled Learning And Teaching Activities | Lecture | 30 | 1:00 | 30:00 | PIP lectures |
| Guided Independent Study | Directed research and reading | 1 | 66:00 | 66:00 | N/A |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | PIP seminars |
| Guided Independent Study | Independent study | 1 | 38:00 | 38:00 | N/A |
| Total | 200:00 |
Teaching Rationale And Relationship
1. Lectures materials provide an introduction to game theory and present theoretical models of major exchange institutions and allocation mechanisms.
2. Small group teaching takes students through economic and numerical applications and provide solutions to problem sets.
3. Independent study involves preparing problem sets, reading additional recommended material, and preparing for assessment.
Reading Lists
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 180 | 2 | A | 100 | N/A |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 1 | M | Exercises Sets, followed by group feedback. |
| Prob solv exercises | 2 | M | Exercise Sets, followed by group feedback. |
Assessment Rationale And Relationship
The final examination is designed to assess students’ understanding of key institutions of exchange using the methods of modern microeconomic theory.
Learning outcomes can only be assessed through a written problem-based analytical/formal exam.
Alternative assessment for Study Abroad students: unseen written exam.
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3001's Timetable
Past Exam Papers
- Exam Papers Online : www.ncl.ac.uk/exam.papers/
- ECO3001's past Exam Papers
General Notes
N/A
Welcome to Newcastle University Module Catalogue
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Disclaimer
The information contained within the Module Catalogue relates to the 2024 academic year.
In accordance with University Terms and Conditions, the University makes all reasonable efforts to deliver the modules as described.
Modules may be amended on an annual basis to take account of changing staff expertise, developments in the discipline, the requirements of external bodies and partners, and student feedback. Module information for the 2025/26 entry will be published here in early-April 2025. Queries about information in the Module Catalogue should in the first instance be addressed to your School Office.