EC4B6 Half Unit
Microeconomics for MSc F&E
This information is for the 2021/22 session.
Teacher responsible
Dr Francesco Nava
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 course is delivered through a combination of classes and lectures totalling a minimum of 30 hours across Michaelmas Term Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos.
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.
Although exams are planned to take place in person in the format described above, adjustments may need to be implemented depending on the evolution of the pandemic.
Course selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Important information in response to COVID-19
Please note that during 2021/22 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 differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching 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 2020/21: 28
Average class size 2020/21: 5
Controlled access 2020/21: Yes
Value: Half Unit
