Unit name | Micro 3 - Microeconomics with an Extended Essay |
---|---|
Unit code | ECON30001 |
Credit points | 30 |
Level of study | H/6 |
Teaching block(s) |
Teaching Block 4 (weeks 1-24) |
Unit director | Professor. Jolivet |
Open unit status | Not open |
Pre-requisites |
none |
Co-requisites |
none |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
This unit is only available to Graduate Diploma students. The course introduces uncertainty and game theory in the first term. In the second term, these tools are used to study asymmetries of information in general equilibrium models.
Summative assessment:
1. Three-hour closed book exam.
Students are presented with four questions and have to answer three of them (each question should take one hour on average) No specialization. Whilst the course is divided into four topics (uncertainty, game theory, adverse selection and moral hazard), there could be more than one of the four questions on a specific topic. Also, one question can cover more than one topic.
Each question starts with a series of items aiming at assessing learning outcomes 1 and 2 and the end of the question tends to depart from standard settings in order to assess learning outcome 3.
2. Extended Essay
Diploma students follow the same programme of study as second year undergraduates taking Intermediate Microeconomics. in addition to the exam students will complete an extended essay (5,000 words maximum) on a set topic. This is to give students an opportunity for more extended study and the writing of a critical survey of more recent research, and will provide a useful basis for any future work at post-graduate level.
Final assessment in this unit will be based on a weighted average of the examination and extended essay and the unit as a whole will be worth 30 credit points.
Formative assessment:
Students are asked to prepare questions for each of the nine tutorials. Their work is assessed by the tutor in class. Four essay lectures (two per term, one per topic). During each of these essay lectures, students are asked to solve a one-hour exam question in class. All scripts are collected and marked by the tutors. Marked scripts are returned to the students at the next tutorial.
Only suggested readings: