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Unit information: Intermediate Economics 2 with Extended Essay in 2018/19

Please note: you are viewing unit and programme information for a past academic year. Please see the current academic year for up to date information.

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

Description

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.

Intended learning outcomes

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.

Teaching details

28 Lectures

8 Exercise Lectures

9 classes

This pattern of teaching may be changed slightly to accommodate the Easter Vacation.

Assessment Details

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.

Reading and References

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.

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