FIN42160 Economics and Markets

Academic Year 2021/2022

This module is designed to provide students with an introduction to economics with a particular focus on market developments. Following a formal introduction to economics, the module will examine the role of networks in economic allocation, game theory & auctions and single-sided versus multi-sided platforms. The issue of scarcity is at the heart of economics and in particular the impact of scarcity on our choices and how our choices influence others. A detailed introduction to the fundamental principles of economics is presented in the first section of the module, with a focus on single-sided platforms. The second part of the module will introduce the importance of networks or connectedness and the implications for economic interactions, using game theory. The third part of the module will develop the topic of network effects and introduce matching markets and markets involving multi-sided platforms. Multi-sided platforms are companies whose business it is to connect or match one group of customers with another group of customers. Examples include Alibaba, Facebook, Airbnb and Uber.

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Curricular information is subject to change

Learning Outcomes:

On completing this module, students will be expected to be able to:
1. Understand and describe the key features and challenges in relation to allocation.
2. Demonstrate an understanding of the theoretical framework associated with single-sided platforms.
3. Summarize the increased interconnectedness and the role of network effects in society.
4. Describe the implications of increased interconnectedness on the allocation process.
5. Explain the importance and the fundamental elements associated with multi-sided platforms.

Indicative Module Content:

1. Introduction
2. Economics - The Fundamentals
3. Networks
4. Game Theory & Auctions
5. Matching Markets
6. Multi-Sided Platforms


Student Effort Type Hours
Specified Learning Activities

40

Autonomous Student Learning

50

Lectures

24

Tutorial

11

Total

125

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Assignment: Assignment in the form of 4 separate problem sheets. Throughout the Trimester n/a Graded No

60

Class Test: Mid-term test Varies over the Trimester n/a Graded No

30

Continuous Assessment: Class participation - weekly discussion Throughout the Trimester n/a Graded No

10


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring No
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Online automated feedback

How will my Feedback be Delivered?

Feedback will be provided in person and if required remotely post all assessment.

Autumn
     
External & School Exams Offering 1 Week(s) - 4 Fri 15:00 - 15:50
Tutorial Offering 1 Week(s) - Autumn: Weeks 2-12 Mon 16:00 - 16:50
Lecture Offering 1 Week(s) - 2 Thurs 12:00 - 13:50
Lecture Offering 1 Week(s) - 1 Thurs 13:00 - 14:50
Lecture Offering 1 Week(s) - 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 Wed 14:00 - 15:50
External & School Exams Offering 2 Week(s) - 4 Fri 15:00 - 15:50
Tutorial Offering 2 Week(s) - Autumn: Weeks 2-12 Mon 16:00 - 16:50
Lecture Offering 2 Week(s) - 1 Thurs 15:30 - 17:20
Lecture Offering 2 Week(s) - 2 Thurs 15:30 - 17:20
Lecture Offering 2 Week(s) - 1, 3, 4, 5, 6, 7, 8, 9, 10 Wed 16:30 - 18:20
Lecture Offering 2 Week(s) - 2 Wed 16:30 - 18:20
Autumn
     

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