Module ECON3201: ADVANCED MICROECONOMIC THEORY

Department: Economics, Finance and Business (Economics and Finance)

ECON3201: ADVANCED MICROECONOMIC THEORY

Prerequisites

• Economic Principles II: Microeconomics (ECON2021)

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To develop knowledge and analytical skills in advanced microeconomic theory, by building on the second-year microeconomics module.
• To provide students with the opportunity to participate in student-centred learning drawing on recent research.
• To offer students the opportunity to develop some key skills.

Content

• Theoretical foundations of consumer behaviour, theory of the firm, and general-equilibrium analysis.
• The course will give students training in: a) reading advanced research contributions, b) formulating own research questions, c) solving economic problems at an advanced level.
• Topics for the module will be chosen from the following list: Consumer choice, Duality, Aggregate demand, Production,General equilibrium, Choice under uncertainty, Non-expected utility, Game theory, Theory of the firm with market power, Asymmetric information, Principal-agent theory, Welfare economics.

Learning Outcomes

• At the end of the module the students should:
• be able to understand research contributions in microeconomics (journal publications).
• have had the opportunity to formulate their own research questions.

• be able to solve microeconomic problems at an advanced level.

• Written Communication - through summative assessment.
• Planning, Organissation and Time Management - e.g. by revising relevant material and preparing for examinations.
• Problem Solving and Analysis - e.g. by applying the necessary analytical and quantitative skills, as well as the ability to manipulate concepts in microeconomics, in undertaking assessed work.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures, tutorials and support for student-centred learning. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study (including student-centred learning). Formative assessment is by means of an assignment. Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

One 1500 word assignment

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University