Module Information
Course Delivery
| Delivery Type | Delivery length / details |
|---|---|
| Lecture | 22 x 1 Hour Lectures |
| Seminar | 5 x 1 Hour Seminars |
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Exam | 3 Hours Unseen written examination | 80% |
| Semester Assessment | Coursework assignment 1,500 words | 20% |
| Supplementary Exam | 3 Hours Unseen written examination Repeat failed elements | 80% |
| Supplementary Assessment | Coursework assignment 1,500 words Repeat failed elements | 20% |
Learning Outcomes
On successful completion of this module students should be able to:
* Demonstrate an understanding of the analysis of choice under uncertainty;
* Demonstrate an understanding of game theoretic concepts;
* Employ the methodology of game theory to analyse strategic behaviour in various contexts;
* Demonstrate an understanding of the form and implications of asymmetric information in market situations;
* Demonstrate an understanding of potential solutions to the problems of adverse selectin and moral hazard.
Brief description
This module treats a variety of advanced topics in theoretical and applied microeconomics, relating to choice under uncertainty, strategic decision making, and asymmetric information. It enables the incorporation of an increased theoretical core within the identified degree schemes providing the opportunity to better match content with benchmark guidelines. The module will selectively identify influential theoretical work from the major academic journals, introducing students to a range of research methods that will facilitate development of advanced analytical and research skills.
Content
- Choice under uncertainty
- Game theoretic solution concepts for non-cooperative games
- Incomplete information and irrationality
- Repeated play: cooperation and reputation
- Bilateral bargaining and negotiation
- Moral hazard and incentives
- Adverse selection and market signalling
- Auction theory
Module Skills
| Skills Type | Skills details |
|---|---|
| Application of Number | Treatment of numerical problems in tutorial exercises, in assignment and examination. |
| Communication | During tutorial class discussion and presentation. |
| Improving own Learning and Performance | In preparation for, attending and participating in and reflecting on tutorial classes. Preparation and production of assignment, and revision and preparation for the final examination. |
| Information Technology | Appropriate accessing of the internet for reference material. Accessing course information and documents from Blackboard, and use of word-processing skills for the assignment. |
| Personal Development and Career planning | Development of various personal and interpersonal skills, generally transferable in career terms, including initiative, independence and self-awareness - in addition to skills listed above. |
| Problem solving | Treated in lectures and applied in tutorials |
| Research skills | Obtaining, selecting, assimilating information from a variety of sources for use in tutorials, and production of notes and expanding on lecture material. |
| Subject Specific Skills | Application of models and ability to think in the abstract. |
| Team work | Group oriented tutorial tasks. |
Notes
This module is at CQFW Level 6