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Module

ECO3001 : Advanced Microeconomics

  • Offered for Year: 2021/22
  • 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

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture301:0030:00PIP lectures
Guided Independent StudyAssessment preparation and completion160:0060:00N/A
Guided Independent StudyDirected research and reading166:0066:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00PIP seminars
Guided Independent StudyIndependent study138:0038:00N/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.
3.       Independent study involves preparing problem sets, reading additional recommended material, and preparing for assessment.

Assessment Methods

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 exercises1MExercises Sets, followed by group feedback.
Prob solv exercises2MExercise 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: written, online take-home exam.

Reading Lists

Timetable