University of Technology Sydney

23907 Advanced Microeconomics

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2024 is available in the Archives.

UTS: Business: Economics
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Requisite(s): 23917c Advanced Macroeconomics AND 23909c Thesis Proposal in Economics (Honours) AND 23908c Advanced Econometrics
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.

Description

Advanced Microeconomics extends earlier training received by students in subjects such as Intermediate Microeconomics, Game Theory and Mathematical Economics by providing both stronger analytical foundations for the results and frameworks derived in those subjects, and by extending principles learned previously to new areas of analysis.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. understand modern microeconomic models and their application to the analysis of economic policy
2. modify existing models and apply them to new policy questions
3. use the technical skills developed throughout the course to knowledgeably read contemporary microeconomic research.

Contribution to the development of graduate attributes

This subject develops more advanced knowledge of the tools and concepts of microeconomics. It familiarises students with selected areas of modern microeconomic theory, such as advanced game theory, auction theory, mechanism design, and other topics. It provides the tools required to understand and apply modern microeconomic theory to the analysis of important contemporary policy questions.

This subject also contributes specifically to develop the following Program Learning Objectives:

  • Apply the appropriate research method and analytical tools in addressing discipline specific problems (4.1)

Teaching and learning strategies

The subject will be taught using a combination of lectures and tutorials. There is no course textbook. Students will read from texts and articles appropriate to the selection of topics. The class will follow the usual weekly lecture (3 hours per week), with occasional intensive delivery.

Content (topics)

The content will be selected from the following areas:
• Advanced Game Theory and Mechanism Design
• Auction Theory
• Information Economics
• Decision Making under Uncertainty
• Behavioural and Experimental Economics
• Advanced Labour Economics

Assessment

Assessment task 1: Assigned homework and in-class quizzes (Individual)*

Objective(s):

This addresses subject learning objective(s):

1 and 2

Weight: 25%
Criteria:

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Assessment task 2: Midterm Exam (Individual)

Objective(s):

This addresses subject learning objective(s):

1 and 3

Weight: 25%

Assessment task 3: Final examination (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 3

Weight: 50%

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Recommended texts

There is no required textbook.

References

1. Mas-Collel, Whinston, and Green: Microeconomic Theory, Oxford University Press, 1995.

2. Salanie, The Economics of Contracts. A Primer second edition. The MIT Press, 2005.

3. Jehle and Reny, Advanced Microeconomic Theory (3rd Edition), Prentice Hall, 2011.