ECON41810 Advanced Microeconomics

Academic Year 2023/2024

This module consists of two parts: game theory and information economics. In the first part we cover static and dynamic games of complete and incomplete information. In the second part we cover moral hazard and adverse selection.

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Curricular information is subject to change

Learning Outcomes:

Students will be able to:
- model situations involving conflicts of interest between agents
- identify the source of any information asymmetry
- understand the economic implications created in such situations
- propose a solution that best addresses the issue

Indicative Module Content:

Game theory:
- Static games of complete information
- Static games of incomplete information
- Dynamic games of complete information
- Dynamic games of incomplete information

Information economics:
- Moral hazard
- Adverse selection

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

100
Lectures

24
Total

124
Approaches to Teaching and Learning:
The module will be delivered through lectures and in-class discussion of problem sets. 
Requirements, Exclusions and Recommendations
Learning Requirements:

Students should be familiar and comfortable with single-variable calculus and the topics covered in previous microeconomics courses.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Mid-term exam covering the first three topics. Week 7 No Alternative linear conversion grade scale 40% No

40
Examination: Final exam covering the last three topics. 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

60

Carry forward of passed components
No
 
Resit In Terminal Exam
Summer Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Each student will receive an individual grade for their assessment. Solutions will be provided after grading is finished.

Game Theory for Applied Economists by Robert Gibbons (1992)
An Introduction to the Economics of Information by Inés Macho-Stadler and David Pérez-Castrillo (1997)
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Spring
      
Lecture Offering 1 Week(s) - 20, 21, 23, 24, 25, 26, 29, 32, 33 Mon 11:00 - 12:50