EC314: Topics in Economic Theory

Sinem Hidir
Module Leader

15 CATS - Department of Economics

Principal Aims

Students will be given the opportunity to study several related areas of active application of economic theory. This advanced module builds upon core second year learning. Each year the topics may vary with more recent areas being social choice and mechanism design, with the ultimate aim of bringing economic theory to bear on social problems and economic and policy mechanisms to address them.

Principal Learning Outcomes

Subject knowledge and understanding: … demonstrate an appreciation of the use and limitations of economic theory and its methods in understanding the chosen topics and analysing important social and economic problems. 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: Final 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: Group presentation, 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: Final 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: Final 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: Final 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: Final exam.

Syllabus

Economic Theory is very broad and covers topics such as information economics, contract theory, decision theory, social contracts and choice theory, to name a few. Each year, this module will cover a variety of topics within the broad area of economic theory: developing models, analysing them and looking at their applications and relevance. Two common topics include information economics and contract theory. Within these areas of economic theory, the topics may include Asymmetric Information, Moral hazard and Adverse Selection, Communication, Career Concerns, Incomplete Contracts and Institutional Design.

Context

Optional Module

LV13 - Year 3, V7MC - Year 3, V7MF - Year 4, V7MS - Year 4, L112 - Year 3, GL11 - Year 3, LM1D (LLD2) - Year 3, GG14 - Year 3, GG17 - Year 4, V7MD - Year 3, V7ME - Year 3, Y602 - Year 3, Y603 - Year 3, L103 - Year 4, V7MB - Year 3, LM1H - Year 3, V7MM - Year 3, V7MR - Year 3, V7MR - Year 4, V7MI - Year 4, G1G3 - Year 4, G30F - Year 3, G30F - Year 4, L117 - Year 4, L116 - Year 3, V7MP - Year 3, GL12 - Year 4, L114 - Year 4, V7MA - Year 3, LV16 - Year 3, G1G3 - Year 3, L100 - Year 3, V7ML - Year 3, V7MJ - Year 5, V7MQ - Year 4, V7MH - Year 4, G30B - Year 5, G30B - Year 4, G30B - Year 3, V7MG - Year 4, G30A - Year 4, G30C - Year 5, G30D - Year 5, G300 - Year 4, G30D - Year 4, G30A - Year 5, G30C - Year 4, G30H - Year 5, G30E - Year 5, G30F - Year 5, G30G - Year 5, G30C - Year 3, G30D - Year 3

Pre or Co-requisites

Any of:

EC202-30 Microeconomics 2 OR

EC204-30 Economics 2 OR

EC238-15 Economics 2: Microeconomics

AND

EC220-15 Mathematical Economics 1A

EC220 is recommended. If students have not taken EC220, you are strongly advised NOT to take this module.

If your performance in EC202/EC204/EC238 is below 60%, you are strongly encouraged not to take this module

Summary:

Modules: (EC202-30 or EC204-30 or EC238-15) and EC220-15

Assessment

Assessment Method: Coursework (30%) + Online Examination (70%)
Coursework Details: Group presentation (30%) , Online Examination (70%)
Exam Timing: Summer

Exam Rubric

Time Allowed: 2 Hours

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

There are TWO Sections in this paper. Answer TWO questions in Section A (50 marks total) and TWO questions in Section B (50 marks total).

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.