University of Surrey - Guildford

Registry > Module Catalogue
View Module List by A.O.U. and Level  Alphabetical Module Code List  Alphabetical Module Title List  Alphabetical Old Short Name List  View Menu 
2010/1 Module Catalogue
 Module Code: ECOM037 Module Title: ADVANCED ECONOMIC THEORY
Module Provider: Economics Short Name: ECOM037
Level: M Module Co-ordinator: KIM Y Dr (Economics)
Number of credits: 15 Number of ECTS credits: 7.5
Module Availability


Assessment Pattern
Unit(s) of Assessment

Weighting Towards Module Mark (%)

2 hour Examination




Qualifying Condition(s)
A weighted aggregated mark of 50% is required to pass the module
Module Overview

The module is composed of a collection of advanced micro - and macro - economic topics. The microeconomics topics aim to familiarise with basic tools of non co-operative game theory. The macroeconomics aims to introduce dynamic general equillibrium (DGE) modelling along with related numerical applications. At every stage, the theories will be illustrated in the context of some economic application.


ECOM011 Preliminary Quantitative Methods, ECOM020 Microeconomics and ECOM021 Macroeconomics

Module Aims
This module aims to familiarise students with advanced conceptual and appropriate mathematical tools in macro and micreconomic theory


Learning Outcomes

By the end of the module the student will:- 

  • Be able to use several key mathematical techniques common in non co-operative game theory
  • Be able to explain and discuss an advance treatment of DGE models
  • Have experience in applying these techniques to economics problems
  • Have been introduced to some of the strengths and weaknesses of using formal methods to analyse economic problems
  • Have sufficient familiarity with the above tools and principles that they can begin to follow the literature
  • Module Content

    The following is an indication of the likely topics to be covered:

  • Overview of modern economic theory
  • Static optimisation problems
  • Duality, competitive markets and exchange
  • Time, intertemporal preferences and optimisation, and general equilibrium
  • Value function iteration
  • Foundations of dynamic general equilibirum (DGE)
  • Applications of dynamic optimisation
  • Solving systems of linear expectations equations
  • Real business cycles
  • Monetary policy
  • New Keynesian theory
  • Methods of Teaching/Learning

    Lectures (20 hrs)
    Readings using lecturers guidance
    Preparing exercises
    Responding to questions in class
    Preparing and taking part in the class test


    Selected Texts/Journals

    Hoy, Michael et al. (2001), Mathematics for Economics, MIT Press
    Varian, H. (1992), Microeconomic Analysis, 3rd ed. W. W. Norton, London
    Wickens, Michael (2008), Macroeconomic Theory, Princeton
    Gali, jordi (2008), Monetary Policy, Inflation, and the Busienss Cycle, Princeton
    Adda J, and Russell Cooper (2003), Dynamic Economics, MIT Press
    Jehle and Reny (1998), Advanced Economic Theory, Addison-Wesley

    Last Updated

    28 September 2010