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: 2023/4

Module Convenor: Dr Joo Young Jeon
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 consumer theory, production theory, general equilibrium and welfare, game theory, decision making under risk (expected utility theory), market failure and interactions under asymmetric information. Further potential topics may include behavioural economics.

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:

Consumer theory; production theory; general equilibrium and welfare; game theory; decision making under risk (expected utility theory), market failure; interactions under asymmetric information. Further potential topics may include behavioural economics.

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the weekly lectures, together with lecture slides and exercises 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.

Contact hours:

	Autumn	Spring	Summer
Lectures	20	2
Guided independent study:
Other	148		30
Total hours by term	168	2	30
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	60
Set exercise	40

Summative assessment- Examinations:

One 2-hour unseen written paper which is weighted at 60%

Postgraduate examinations are held in the summer term. 

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

There will be a problem set that counts for 40% of the overall mark.

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy 'Penalties for late submission for Postgraduate Flexible programmes', which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

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):

1) Required text books:  

2) Specialist equipment or materials:  

3) Specialist clothing, footwear or headgear:  

4) Printing and binding:  

5) Computers and devices with a particular specification:  

6) Travel, accommodation and subsistence:  

Last updated: 30 March 2023