| Unit name | Intermediate Economics 2 with Extended Essay |
|---|---|
| Unit code | EFIM30023 |
| Credit points | 30 |
| Level of study | H/6 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Dr. Correia |
| Open unit status | Not open |
| Pre-requisites |
None |
| Co-requisites |
None |
| School/department | School of Economics, Finance and Management |
| Faculty | Faculty of Social Sciences and Law |
This unit is only available to Graduate Diploma students.
The course develops and extends the material taught in Intermediate Economics 1. It looks at Bayesian games and considers adverse selection and moral hazard at a more formal level.
In macroeconomics, the unit studies long-run fiscal policy (including pensions systems), aggregate investment and modern theories of unemployment.
Students should be able to:
1. Demonstrate a good formal understanding of the notions of strategies, equilibrium and beliefs in games.
2. Solve formal games, including dynamic games with asymmetric information.
3. Formalize an economic problem using the models presented and use the models to undertake analyses.
4. Understand the long-run implications of fiscal policy and be able to analyse key issues such as sovereign debt and pensions reforms using a simple OLG model.
5. Understand key dynamic models of investment and be able to use them to explain real issues.
6. Understand modern theories of unemployment and in particular the search and matching approach to labour markets.
28 Lectures
8 Exercise Lectures
9 classes
This pattern of teaching may be changed slightly to accommodate the Easter Vacation.
Summative Assessment
1. Three hour closed book exam.
2. Extended essay
Diploma students follow the same programme of study as second year undergraduates taking Intermediate Economics 2. In addition to the exam students will complete an extended essay (3,500 words) on a set topic. This is to give students an opportunity for more extended study and the writing of a critical survey of more recent research, and will provide a useful basis for any future work at postgraduate level.
Final assessment in this unit will be based on a weighted average of the examination (67%) and extended essay (33%) and the unit as a whole will be worth 30 credit points.
The assessment examines the ILOs.
Formative Assessment
Six short assignments, consisting mainly of problems. All the learning outcomes will be assessed.
J. Perloff, Microeconomics, Pearson.
R. Gibbons, A Primer in Game Theory, Prentice Hall.
F. Cowell, Microeconomics, Oxford University Press.
Lecture notes for the macro component of the unit.
