Overview:
- Credits:
- 7.5
- Level:
- 4
- Semester:
- Autumn
- Subject:
- Finance
- School:
- Business
- Coordinator:
- Professor Don Bredin
FIN42290 Economics and Markets
Academic Year 2023/2024
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.
1. Introduction
2. The Market Model
3. Networks
4. Game Theory & Auctions
5. Multi-Sided Platforms
| Student Effort Type | Hours |
|---|---|
| Lectures | 12 |
| Specified Learning Activities | 70 |
| Autonomous Student Learning | 100 |
| Total | 182 |
Requirements, Exclusions and Recommendations
Not applicable to this module.
Module Requisites and Incompatibles
Not applicable to this module.
Assessment Strategy
| Description | Timing | Component Scale | % of Final Grade | ||
|---|---|---|---|---|---|
| Class Test: Mid term test | Unspecified | n/a | Graded | No | 30 |
| Presentation: Group presentation on MSPs | Unspecified | n/a | Graded | No | 20 |
| Continuous Assessment: Class participation - weekly discussion | Unspecified | n/a | Graded | No | 10 |
| Assignment: Assignment in the form of 2 separate problem sheets. | Unspecified | n/a | Graded | No | 40 |
| Resit In | Terminal Exam |
|---|---|
| Spring | No |
Feedback Strategy/Strategies
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Online automated feedback
How will my Feedback be Delivered?
Not yet recorded.
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