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Unit information: Intermediate Economics 2 in 2018/19

Please note: It is possible that the information shown for future academic years may change due to developments in the relevant academic field. Optional unit availability varies depending on both staffing and student choice.

Unit name Intermediate Economics 2
Unit code EFIM20009
Credit points 20
Level of study I/5
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Dr. Correia
Open unit status Not open
Pre-requisites

Intermediate Economics 1

Co-requisites

None

School/department School of Economics, Finance and Management
Faculty Faculty of Social Sciences and Law

Description

The course develops and extends the material taught in Intermediate Economics 1. It looks at Bayesian games and considers adverse selection and moral hazard at a more formal level.

In macroeconomics, the unit studies long-run fiscal policy (including pensions systems), aggregate investment and modern theories of unemployment.

Intended learning outcomes

Students should be able to:

1. Demonstrate a good formal understanding of the notions of strategies, equilibrium and beliefs in games.

2. Solve formal games, including dynamic games with asymmetric information.

3. Formalize an economic problem using the models presented and use the models to undertake analyses.

4. Understand the long-run implications of fiscal policy and be able to analyse key issues such as sovereign debt and pensions reforms using a simple OLG model.

5. Understand key dynamic models of investment and be able to use them to explain real issues.

6. Understand modern theories of unemployment and in particular the search and matching approach to labour markets.

Teaching details

28 Lectures

8 Exercise Lectures

9 classes

This pattern of teaching may be changed slightly to accommodate the Easter Vacation.

Assessment Details

Summative Assessment:

3 hour examination in January worth 100%. This tests all the learning outcomes.

Formative Assessment:

6 short assignments, consisting mainly of problems. All the learning outcomes will be assessed.

Reading and References

J. Perloff, Microeconomics. Pearson.

R. Gibbons, A Primer in Game Theory, Prentice Hall.

F. Cowell, Microeconomics, Oxford University Press.

Lecture notes for the macro component of the unit.

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