ECO3001 : Advanced Microeconomics
- Offered for Year: 2022/23
- 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.Competitive price mechanism
4.Bargaining
5.Asymmetric information and contracts
6.Auctions
7.Search and matching
8.Assignment
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 30 | 1:00 | 30:00 | PIP lectures |
| Guided Independent Study | Assessment preparation and completion | 1 | 60:00 | 60:00 | N/A |
| 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.
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
| 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: written, online take-home exam.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO3001's Timetable