- UCAS course code
- LV25
- UCAS institution code
- M20
Course unit details:
Microeconomic Analysis 4
Unit code | ECON30512 |
---|---|
Credit rating | 10 |
Unit level | Level 3 |
Teaching period(s) | Semester 2 |
Offered by | Economics |
Available as a free choice unit? | No |
Overview
This course aims to introduce students to rigorous analysis of the workings of the factor (labour and capital) markets and how uncertainty and asymmetric information affect the decision making process of market actors.
At the end of this course unit it is expected that you will be able to demonstrate your understanding of: (i) labor demand and supply, (ii) intertemporal choice, (iii) capital market and real interest rate, (iv) expected utility theory, (v) concept of risk aversion, (vi) optimal insurance purchasing, (vii) Risky asset investment, (viii) economics of asymmetric information.
Pre/co-requisites
Unit title | Unit code | Requirement type | Description |
---|---|---|---|
Microeconomic Analysis 3 | ECON30501 | Pre-Requisite | Compulsory |
ECON30501 Micro Analysis 3
Aims
This course aims to introduce students to rigorous analysis of the workings of the factor (labour and capital) markets and how uncertainty and asymmetric information affect the decision making process of market actors.
Learning outcomes
At the end of this course unit it is expected that you will be able to demonstrate your understanding of:
- Labor demand and supply.
- Intertemporal choice.
- Capital market and real interest rate.
- Expected utility theory.
- Concept of risk aversion.
- Optimal insurance purchasing.
- Risky asset investment.
- Economics of asymmetric information.
Syllabus
Factors Markets
Labor demand and supply
Intertemporal choice
Capital Market and real interest rate
Uncertainty
Decisions under risk
Expected utility Theory
Concept of risk aversion
Optimal insurance purchasing
Risky asset investment
Asymmetric Information
Adverse selection
Moral hazard
Signalling
Teaching and learning methods
Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study
The learning process of students is supported by tutorials (exercise questions and discussion based questions) and the provision of further online material (such as discussion boards and practice quizzes).
Employability skills
- Analytical skills
- Abstract and numerical reasoning.
- Problem solving
- Applying knowledge to unfamiliar problems.
- Written communication
- Using words, mathematics, and diagrams to explain, solve problems, and make arguments. Producing documents with text, mathematics, and diagrams. Academic writing.
Assessment methods
80% Exam
20% Mid-term test
Feedback methods
- Formative Assessment (assessment that does not contribute to your grade) and other feedback opportunities
- Weekly tutorial: A Problem set containing questions designed to reinforce understanding of material covered in the lectures is assigned for each tutorial. Students are asked to attempt the questions before attending each tutorial and get questions answered during the tutorial.
- Sample Exam Paper
Recommended reading
Nicholson, Walter and Christopher Snyder, Intermediate Microeconomics and its Applications, Cenage Learning, 2015.
Varian, Hal. R., Intermediate Microeconomics with Calculus, Norton, 2014.
Teaching staff
Staff member | Role |
---|---|
W Chiu | Unit coordinator |