ECM602-Advanced Microeconomic Analysis

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: A knowledge of intermediate microeconomics
Co-requisites:
Modules excluded:
Current from: 2020/1

Email: j.jeon@reading.ac.uk

Type of module:

Summary module description:

The module examines topics in microeconomics in an advanced manner incorporating mathematics. Topics will include general equilibrium, welfare, and decision making under risk (expected utility theory), uncertainty (subjective expected utility theory), and over time (discounted utility). Further potential topics may include behavioural aspects of decision making and interactions under asymmetric information.

Aims:

To provide students with an advanced exposure to topics in microeconomics.

Assessable learning outcomes:

At the end of the module students should be able to:



(1) Critically assess microeconomic concepts and principles;



(2) Evaluate whether the empirical evidence supports the theoretical predictions;



(3) Appreciate theoretical concepts and the circumstances in which they apply.

Additional outcomes:

Problem sets and articles for discussion will be provided during the module. These will provide an opportunity for students to develop their analytical and problem-solving skills, as well as their ability to understand technical articles and apply theoretical knowledge to real world situations. 

Outline content:

General equilibrium, welfare, and decision making under risk (expected utility theory), uncertainty (subjective expected utility theory), and over time (discounted utility). Further potential topics include behavioural aspects of decision making and interactions under asymmetric information.

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the weekly lectures, together with handouts covering the material discussed, examples, exercises and solutions to facilitate understanding of key concepts. Students will be expected to supplement the lectures with the recommended reading of articles and book chapters and to do some research using the library, internet or other resources. Office hours are available for students to consult the lecturer on an individual basis.

Summative assessment- Examinations:

One 2-hour unseen written paper.

Postgraduate examinations are held in the summer term. 

Summative assessment- Coursework and in-class tests:

Coursework will count for 40% of the overall mark and comprise of a test and an essay.

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

A minimum weighted average mark of coursework and examination of 50%.

Reassessment arrangements:

Re-examination for all modules takes place in August/September of the same year.



Re-assessment is by examination only; coursework is not included at the second attempt.

Additional Costs (specified where applicable):

Last updated: 7 September 2020