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Module

ECO3001 : Advanced Microeconomics

  • Offered for Year: 2020/21
  • Module Leader(s): Dr Francis Kiraly
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0

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. Bargaining
4.       Competitive equilibrium
5. Asymmetric information
6. Auctions
7.       Search and matching

Teaching Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

Teaching Activities
Category Activity Number Length Student Hours Comment
Structured Guided LearningLecture materials182:0036:00N/A
Structured Guided LearningLecture materials92:0018:00N/A
Guided Independent StudyAssessment preparation and completion139:0039:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00Present in Person seminars.
Scheduled Learning And Teaching ActivitiesWorkshops31:003:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery51:005:00Synchronous, online - Q&A
Guided Independent StudyIndependent study193:0093:00N/A
Total200:00
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. The seminars are present-in-person.
3.       Independent study involves preparing problem sets, reading additional recommended material, and preparing for assessment.

Assessment Methods

Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1802A100N/A
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MProblem Solving Exercises, followed by group feedback.
Prob solv exercises2MProblem Solving Exercises, 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.

Reading Lists

Timetable