Social Choice

Module code: EC3075

Module co-ordinator: Professor Suresh Mutuswami

Economic theory uses formal mathematics intensively, so you will need to be able to follow mathematical arguments. With this in mind, we will go through a few important theorems in economic theory which use only elementary maths, helping you to understand the mathematical arguments behind each result. We will go over each result and its proof slowly and in detail; however, we will make no attempt to simplify or 'hide' the maths.

Topics covered

  • Arrow's theorem
  • Von Neumann-Morgenstern theorem
  • Nash bargaining solution
  • Shapley value for cooperative games

Learning

  • 20 one-hour lectures
  • 5 one-hour seminars

Assessment

  • Coursework (30%)
  • Exam, 2 hours (70%)