Advanced Microeconomics

Module code: EC3000

Module co-ordinator: Dr Matthew Polisson

Module Aims

The aim of this module is to further develop your knowledge of microeconomic theory within a more realistic ‘imperfect’ market environment, and, where appropriate, to integrate this more advanced theory with issues of policy interest. The module comprises several topics primarily on the role of information in economic environments.

The lectures are designed to introduce you to the various microeconomic models under review whereas seminars will re-enforce the material introduced in lectures by exploring different examples.

Topics Covered

  • Key results in consumer theory.
  • Concepts such as the Indirect Utility Function and the Expenditure Function.
  • Contracts that elicit effort between a principal and multiple agents.
  • Situations of asymmetric information (Moral Hazard and Adverse Selection).
  • Basic theory of auctions.
  • Basic theory of market design.

Learning

  • 20 one hour lectures
  • 6 one hour tutorials

Assessment

The module is worth 15 credits towards your third year assessment. You will be assessed by:

  • Coursework (30%)
  • Examination (70%)
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