Module overview
To provide graduate students in economics with an introduction to the basic frameworks of graduate-level microeconomic theory: general equilibrium theory and game theory. Special emphasis will be given to the design, construction and the solution of economic models, ensuring that students become familiar with basic equilibrium techniques.
Aims and Objectives
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- research methods in microeconomics
- theoretical and mathematical methods of microeconomic analysis
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- apply logical analysis to assumption-based models and make use of inductive reasoning
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- use formal logical reasoning to address economic questions
- formulate and manipulate models to address a variety of economic problems and questions
- recognise the role of assumptions in formulating models and deriving predictions
Syllabus
The material is structured around the following two main topics:
General Equilibrium Theory: Foundations of Walrasian equilibrium; normative and positive Aspects of General Equilibrium Theory; Some applications;.
Game Theory: Static and dynamic games of complete information; foundations of Nash equilibrium; games with incomplete information.
Learning and Teaching
Teaching and learning methods
Lectures and masterclasses
| Type | Hours |
|---|---|
| Teaching | 25 |
| Independent Study | 125 |
| Total study time | 150 |
Resources & Reading list
General Resources
Lecture slides available via Blackboard.
Textbooks
Advanced Microeconomic Theory. Addison-Wesley.
Microeconomic Theory. Oxford University Press.
Norton. Intermediate Microeconomics A Modern Approach.
Norton. Intermediate Microeconomics with calculus.
Assessment
Assessment strategy
See Assessment section
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Exam | 85% |
| Online test | 15% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Exam | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Exam | 100% |
Repeat Information
Repeat type: Internal & External