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 Learning | Lecture materials | 18 | 2:00 | 36:00 | N/A |
| Structured Guided Learning | Lecture materials | 9 | 2:00 | 18:00 | N/A |
| Guided Independent Study | Assessment preparation and completion | 1 | 39:00 | 39:00 | N/A |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | Present in Person seminars. |
| Scheduled Learning And Teaching Activities | Workshops | 3 | 1:00 | 3:00 | N/A |
| Scheduled Learning And Teaching Activities | Drop-in/surgery | 5 | 1:00 | 5:00 | Synchronous, online - Q&A |
| Guided Independent Study | Independent study | 1 | 93:00 | 93:00 | 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. 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 Examination | 99 | 2 | A | 100 | 24 hour exam |
Formative Assessments
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 1 | M | Problem Solving Exercises, followed by group feedback. |
| Prob solv exercises | 2 | M | Problem 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
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3001's Timetable