23907 Advanced Microeconomics
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Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(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)
| 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.