EC301: Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information
James Massey
Module Leader
Darina Dintcheva
Module Lecturer
Introduction
EC301-15 Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical InformationPrincipal Aims
The module aims to introduce advanced topics in mathematical economics, information economics and applied game theory. The treatment builds on the foundation established in previous modules covering game theory.
Principal Learning Outcomes
Appreciate the use and limitations of formal mathematical approaches to economic theory and applications.
Demonstrate a comprehensive understanding of the main results and open questions in the chosen areas.
Demonstrate capacity of abstraction and problem solving.
Demonstrate capacity of critical, creative and strategic thinking.
Convey and interpret material to a critical audience.
Demonstrate capacity of analytical thinking, reasoning and application.
Show the ability to absorb and analyse peer-reviewed literature.
Understand the applications of Game Theory.
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
EC202-30 Microeconomics 2 OR
EC204-30 Economics 2 OR
EC220-15 Mathematical Economics 1A OR
EC238-15 Economics 2: Microeconomics OR
IB3J3-15 Mathematical Game Theory OR
ST234-10 Games and Decisions OR
CS409-15 Algorithmic Game Theory
Not available to non-final year students on Economics-based degrees.
Summary:Modules: EC202-30 or EC204-30 or EC238-15 or EC220-15 or IB3J3-15 or ST234-10 or CS409-15 or CS409-15
Assessment
- Assessment Method
- Coursework (40%) + Centrally-timetabled examination (On-campus) (60%)
- Coursework Details
- Centrally-timetabled examination (On-campus) (60%) , In Class Test (40%)
- Exam Timing
- Summer
Subject Specific Skills
- Applied Economics
- Economic information
- Economic principles
- Abstraction
- Analysis of incentives
- Analytical reasoning
- Analytical thinking and communication
- Critical thinking
- Strategic thinking
- Policy evaluation
- Problem solving
Transferable Skills
- Math, Statistical, data-based research skills
- Information technology
- Written communication
- Oral communication
- Research skills
- Numeracy and quantitative skills
Exam Rubric
Time Allowed: 1 hour 30 minutes, plus 15 minutes reading time during which you may make notes on the question paper. You must not start writing in your answer booklet until you are instructed.
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).
Use a GOLD booklet.
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.
Do not submit answers to more than the required number of questions. If you do, only the first answers (in the order they appear) will be marked, up to the required number for each section.
Approved scientific (non-graphical) pocket calculators are allowed.
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.