EC4B6 Half Unit
Microeconomics for MSc F&E
This information is for the 2020/21 session.
Teacher responsible
Dr Francesco Nava 32L.3.20
Availability
This course is available on the MSc in Finance and Economics and MSc in Finance and Economics (Work Placement Pathway). This course is not available as an outside option.
Pre-requisites
Students must have completed Introductory Course in Mathematics and Statistics (EC400).
Course content
The aim of the course is to develop the basic tools for analysing problems of resource allocation used by economists working in research, government and business. The course deals with positive and normative problems. It aims to include modern developments without being overly mathematical, and to develop a capacity to apply economic concepts to real-world problems. The course focuses on classical theories of market behaviour and strategic interaction. We begin by presenting foundations to utility maximization, by analysing the optimisation problems of price-taking consumers and firms, and by modelling market interactions and the formation of prices in perfectly competitive markets. Then we study models of decision making under uncertainty and game theoretic solution concepts. Novel developments in these fields are also discussed in lectures.
Teaching
20 hours of lectures and 10 hours of seminars in the MT.
This year, some or all of this teaching may have to be delivered through a combination of virtual webinars, online videos, and virtual classes.
Formative coursework
Two marked assignments.
Indicative reading
The course will draw on a variety of texts, the main ones being:
- J G Riley, Essential Microeconomics, Cambridge;
- J R Green, A Mas-Colell & M D Whinston, Microeconomic Theory, Oxford.
More detailed readings will be given at the beginning of the course.
Some notes will be provided where textbook coverage is inadequate.
Assessment
Exam (100%, duration: 2 hours, reading time: 10 minutes) in the January exam period.
Important information in response to COVID-19
Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Key facts
Department: Economics
Total students 2019/20: 28
Average class size 2019/20: 6
Controlled access 2019/20: Yes
Value: Half Unit
