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EC301: Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information

  • Claudio Mezzetti

    Module Leader
  • James Massey

    Module Lecturer
15 CATS - Department of Economics

Principal Aims

EC301-15 Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information

Principal Learning Outcomes

Subject knowledge and understanding:…demonstrate an appreciation of the use and limitations of formal mathematical approaches to economic theory and applications. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, final exam.

Subject knowledge and understanding:…demonstrate a comprehensive understanding of the main results and open questions in the chosen areas. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, final exam.

Cognitive skills:...demonstrate capacity of: Abstraction and Problem solving. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, exam.

Cognitive skills:...demonstrate capacity of: Critical, creative and strategic thinking. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, exam.

Cognitive skills:…convey and interpret material to a critical audience. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures. The summative assessment methods that measure the achievement of this learning outcome are: Test, exam.

Cognitive skills:...demonstrate capacity of: Analytical thinking, reasoning and application. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, exam.

Subject-specific/professional skills:…show the ability to absorb and analyse peer-reviewed literature. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, background reading. The summative assessment methods that measure the achievement of this learning outcome are: Test, exam.

Syllabus

The module will typically cover the following topics:

The role of asymmetric information in competitive markets. Topics on games of incomplete information: Bayesian and Perfect Bayesian equilibrium - especially in signalling and agency games. Screening and moral hazard.

Context

Optional Module
GL11 - Year 3, GL12 - Year 3, L100 - Year 3, L103 - Year 4, L116 - Year 3, L1P5 - Year 1, L1PA - Year 1, LM1D (LLD2) - Year 3, LM1H - Year 4, Y602 - Year 3, Y603 - Year 4, G300 - Year 3, G301 - Year 4, G300 - Year 4
Pre or Co-requisites
Modules: (EC202-30 and EC220-15) and (EC204-30 and EC220-12 and EC220-15) and (EC238-15 and EC220-12 and EC220-15)
Part-year Availability for Visiting Students
Available in the Autumn term only (1 x test and 1 x seminar presentation – 12 CATS)

Assessment

Assessment Method
Coursework (40%) + Online Examination (Summer) (60%)
Coursework Details
In Class Test (40%) - Eligible for self-certification: No, Online Examination (Summer) (60%) - Eligible for self-certification: No CATS:
Exam Timing
N/A

Exam Rubric

Time Allowed: 1.5 Hours plus 15 minutes reading time.

Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.

There is ONE section in this paper. Answer TWO questions (50 marks each).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists