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EC901: Economic Analysis AA

  • Carlo Perroni

    Module Leader
  • Atisha Ghosh

    Module Lecturer
  • Bingsong Wang

    Module Lecturer
  • Darina Dintcheva

    Module Lecturer
  • Fatih Kansoy

    Module Lecturer
  • Helios Herrera

    Module Lecturer
  • Michela Redoano

    Module Lecturer
  • Omer Moav

    Module Lecturer
24/44 CATS - Department of Economics
Spring Module
Autumn Module
Also known as: Economic Analysis A: Microeconomics

Principal Aims

24 CATS

The module aims to provide a firm understanding of the principles of microeconomic analysis, and some important

applications including to economic policy.

44 CATS

The module aims to provide a firm understanding of the principles of microeconomic and macroeconomic analysis, and some important applications including to economic policy.

Principal Learning Outcomes

24 CATS

Subject Knowledge and Understanding: Have a thorough understanding of the theoretical foundations of microeconomic analysis The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study The summative assessment methods that measure the achievement of this learning outcome are: Examination and test

Subject Knowledge and Understanding: Demonstrate a thorough understanding of empirical applications of microeconomic theory The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study The summative assessment methods that measure the achievement of this learning outcome are: Examination and test

Subject Knowledge and Understanding: Demonstrate a thorough understanding of policy implications of microeconomics analysis The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study The summative assessment methods that measure the achievement of this learning outcome are: Examination and test

Subject Knowledge and Understanding: Demonstrate a thorough understanding of microeconomic concepts relating to game theory, information economics and choice under uncertainty The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

44 CATS

Subject-specific Skills/Professional Skills: Knowledge and Understanding: Develop a thorough understanding of how macroeconomic models can be used in policymaking and help explain empirical evidence. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Subject Knowledge and Understanding: Demonstrate a thorough understanding of policy implications of microeconomics analysis. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Subject Knowledge and Understanding: Demonstrate a thorough understanding of microeconomic concepts relating to game theory, information economics and choice under uncertainty. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Subject Knowledge and Understanding: Have a thorough understanding of the theoretical foundations of macroeconomic analysis. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Cognitive Skills: Develop a thorough and critical understanding of growth and modern macroeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Subject Knowledge and Understanding: Have a thorough understanding of the theoretical foundations of microeconomic analysis. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Subject Knowledge and Understanding: Demonstrate a thorough understanding of empirical applications of microeconomic theory. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.

Syllabus

24 CATS

The module will bridge the conventional material of an undergraduate degree and more advanced material that would be important for postgraduate work. The syllabus may cover, but is not limited to, the following areas: Consumer theory, behavioural economics, choice under uncertainty, producer theory, cost-benefit analysis, introduction to game theory, externalities, welfare economics, and imperfect information, with reference to policy and evidence.

44 CATS

The syllabus may cover, but is not limited to, the following areas:

Microeconomics A

Consumer theory, behavioural economics, choice under uncertainty, producer theory, cost-benefit analysis, introduction to game theory, externalities, welfare economics, and imperfect information, with reference to policy and evidence.

Macroeconomics A

Solow growth model, growth accounting, convergence, overlapping generations model, endogenous growth, income inequality and growth, unified growth theory, IS-LM model, rules versus commitment in central banking, sustainability models, consumption, investment, institutions and geography, nominal rigidities, the “Philips curve”, monetary policy, inflation and seignorage, rational expectations models, debt sustainability, exchange rates, purchasing power parity.

Context

Optional Core Module
L1P6 - Year 1, L1P7 - Year 1, C8P8 - Year 1
Optional Module
G30B - Year 4
Pre or Co-requisites
24 CATS - The module demands an intermediate knowledge of microeconomic principles, and elementary mathematical methods such as constrained optimisation. 44 CATS - Microeconomics A demands an intermediate knowledge of microeconomic principles, and elementary mathematical methods such as constrained optimisation. Macroeconomics A requires a sound knowledge of intermediate macroeconomics, as represented by texts such as Blanchard, Macroeconomics (Prentice Hall). Maths techniques used will include differential and difference equations; however the emphasis will be on economic understanding.

Assessment

Assessment Method
24 CATS - Coursework (12%) + Exam (88%) 44 CATS - Coursework (12%) + Micro A examination (44%) + Macro A examination (44%)
Coursework Details
24 CATS , Test 2 Microeconomics A (6%), Exam (88%) 44 CATS , Test 2 Macro A (3%), Test 3 Micro A (3%), Test 4 Macro A (3%), Micro A examination (44%), Macro A examination (44%)
Exam Timing
24 CATS - January 44 CATS - N/A

Exam Rubric

EC9011

Time Allowed: 3 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 are TWO Sections in this paper. Answer TWO questions in Section A and TWO questions in Section B. All questions carry equal weight (25 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

EC9012

Time Allowed: 3 Hours plus 15 minutes reading time during which notes may be made (on the question paper only) BUT NO ANSWERS MAY BE BEGUN.

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

There are THREE Sections in this paper. Answer ALL questions in Section A, ONE question in Section B and ONE question in Section C. All questions carry equal weight (25 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