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| Module Availability |
Autumn |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark %
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| 2 Hour Examination |
75
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| Coursework |
25
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Qualifying Condition(s)
A weighted aggregated mark of 50% is required to pass the module |
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| Module Overview |
The module examines how agents and firms behave in a formal framework with strict assumptions. This will demonstrate the art of formal modeling which requires simplifying a problem by identifying the key elements of an agent's behaviour without trivializing the issue. Thinking in a structured framework and the importance of rigorous arguments will be highlighted |
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| Prerequisites/Co-requisites |
None |
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| Module Aims |
This module aims to familiarise students with advanced conceptual and appropriate mathematical tools in microeconomics theory. |
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| Learning Outcomes |
By the end of the module the student will
- Be able to explain and discuss core principles in microeconomic theory
- Be able to use key mathematical techniques common in micreconomic theory
- Have experience in applying these techniques to economic problems
- Have been exposed to some of the strengths and weaknesses of using formal methods to analyse economic problems and
- Have sufficient familiarity with the above tools and principles that they can begin to follow articles in leading economics journals
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| Module Content |
The theory of consumer choice
General equilibrium and the fundamental welfare theorems
Asymmetric information - adverse selection
Game theory (basic solution concepts)
Game theory applications
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| Methods of Teaching/Learning |
Lectures (20 hrs), Tutorials (10 hrs) |
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| Selected Texts/Journals |
Varian, H. (1992) Microeconomic Analysis, Norton, London 3rd edition
Laffont, J. J., and Martimort, D (2002) The Theory of Incentives: The Principle-Agent Model, Princeton University Press.
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| Last Updated |
10 March 2011 |
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