Undergraduate

modules

Modules

ECO3001 : Advanced Microeconomics

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

SEMESTER 1:

1.       Game Theory 1: games in coalitional form
2.       Game Theory 2: strategic games in normal form
3.       Game Theory 3: strategic games in extensive form
4.       Exchange and efficiency
5.       Competitive equilibrium
6.       Axiomatic bargaining
7.       Strategic bargaining

SEMESTER 2:

1.       Search
2.       Price dispersion
3.       Matching
4.       Hidden information and adverse selection
5.       Screening and signalling
6.       Hidden action and moral hazard
7.       Bargaining and auctions

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion164:0064:00N/A
Scheduled Learning And Teaching ActivitiesLecture142:0028:00N/A
Guided Independent StudyDirected research and reading150:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching81:008:00N/A
Guided Independent StudyIndependent study150:0050:00N/A
Total200:00
Teaching Rationale And Relationship

1.       Lectures provide an introduction to game theory and present theoretical models of major exchange institutions and allocation mechanisms.
2.       Seminars take students through economic and numerical applications and provide solutions to problem sets.
3.       Independent study involves preparing problem sets and reading additional recommended material.

Assessment Methods

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

Exams
Description Length Semester When Set Percentage Comment
Written Examination601M25Unseen in-class test, SCHEDULED IN-HOUSE BY NUBS.
Written Examination1502A75N/A
Assessment Rationale And Relationship

The mid-term examination is designed to test students’ ability to formalise and analyse game theoretical models of strategic interaction.

The final examination is designed to assess students’ understanding of key institutions of exchange using the methods of modern microeconomic theory.

Reading Lists

Timetable