23943 Advanced Microeconomics
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Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject provides a rigorous introduction to modern microeconomic theory, with a focus on general equilibrium, welfare economics, and public goods and externalities.
Subject learning objectives (SLOs)
| 1. | Understand modern microeconomic models of consumer theory, theory of the firm, decision making under uncertainty, and partial equilibrium analysis |
|---|---|
| 2. | Apply these models to analysis of economic policy |
| 3. | Modify existing models and apply them to new policy questions |
| 4. | Use the technical skills developed throughout the course to knowledgeably read contemporary microeconomic research |
Contribution to the development of graduate attributes
Microeconomics II is the second course in the micro sequence of the PhD core. It provides a rigorous introduction to modern microeconomic theory, with a focus on general equilibrium theory and welfare, public goods, and other advanced topics.
Teaching and learning strategies
The subject will be taught using a combination of lectures and tutorials. There is no course textbook.
Content (topics)
- General equilibrium.
- Welfare economics.
- Public goods and externalities.
- Information economics.
Assessment
Assessment task 1: Assigned homework and in-class quizzes (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 10% |
| 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: | 35% |
Assessment task 3: Final examination (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 55% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Recommended texts
There is no required textbook.
References
- Advanced Microeconomic Theory, 2nd edition, by G. Jehle & P. Reny (Addison-Wesley, 2000).
- Microeconomic Theory, by A. Mas-Colell, M. Whinston, and J. Green (Oxford University Press, 1995).
- Microeconomic Analysis, 3rd edition, by Hal Varian (Norton, 1992).