ADVANCED MICROECONOMICS 2 - 2018/9

Module code: ECOD005

Module provider

Economics

Module Leader

CARMONA GM Prof (Economics)

Number of Credits

0

ECTS Credits

0

Framework

FHEQ Level 8

JACs code

L120

Module cap (Maximum number of students)

N/A

Module Availability

Semester 2

Overall student workload

Independent Study Hours: 123

Lecture Hours: 27

Assessment pattern

Assessment type Unit of assessment Weighting
Coursework COURSEWORK (4 Problem Sets) 30
Examination EXAMINATION (3 hours) 70

Alternative Assessment

None

Prerequisites / Co-requisites

None.

Module overview

This module presents key microeconomic concepts which form part of the core knowledge that a PhD student in economics should acquire in his/her first year of graduate studies. The material focuses on game theory and information. It presents the four main models in game theory, which consist of static games with complete information, dynamic games with complete information, static games with incomplete information and dynamic games with incomplete information. The treatment will be rigorous, at a suitable pace. Emphasis will be given to economic applications.

Module aims

Provide students with a thorough understanding of key microeconomic models, concepts and results.

Enable students to prepare for research in this field.

Enable students to develop the skills to work independently.

Learning outcomes

Attributes Developed
001 Demonstrate an advanced understanding of key game-theoretical models, concepts and results at the most advanced level KC
002 State and prove, rigorously and in detail, results related to the material taught, in particular by using advanced mathematical tools KCT
003 Read, interpret and critically discuss the advanced, state-of-the-art papers and books related to the material covered KT
004 Apply the concepts, tools and results to economic problems KCP

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Indicative content includes:


Normal-form games
Dominant strategies
Nash equilibrium
The problem of the commons
Final-offer arbitration
Existence of equilibrium
Mixed strategies
Games with an endogenous sharing rule
Interpretations of Nash equilibrium
Perfect equilibrium
Nash equilibrium correspondence
Generic properties
Incomplete information
Cournot duopoly
A double auction
Extensive-form games
Games of perfect information
Sequential bargaining
Games of imperfect information and subgame perfect equilibrium
Repeated games
The folk theorem
Sequential equilibrium
Signalling games


Reputation

Methods of Teaching / Learning

The learning and teaching strategy is designed to: develop students’ independent research skills, by training them to do critical analysis of papers in scientific journals and do many problem sets, making sure concepts and methods are mastered.

 

The learning and teaching methods include:

Interactive lectures and discussion of cases within these.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their technical skills relating to, and understanding of, economic problems involving game theory.

 

Thus, the summative assessment for this module consists of:


A three-hour exam worth 70% of the final mark.
Problem sets worth 30% of the final mark typically submitted in week 3, 6, 9 and 11.


 

Formative assessment

Due to the limited size of the cohort and the level of study, formal formative assessment is being replaced with informal discussions during and outside of lectures.

Reading list

Reading list for ADVANCED MICROECONOMICS 2 : http://aspire.surrey.ac.uk/modules/ecod005

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics (Four Year) PHD 2 Compulsory A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2018/9 academic year.