Microeconomic Theory 2 ECON5161

  • Academic Session: 2025-26
  • School: Adam Smith Business School
  • Credits: 20
  • Level: Level 5 (SCQF level 11)
  • Typically Offered: Semester 2
  • Available to Visiting Students: No
  • Collaborative Online International Learning: No
  • Curriculum For Life: No

Short Description

Microeconomic Theory 2 is an elective course in the MSc Economics program, and it is a part of the first year microeconomics sequence in the MRes Economics program. It serves as an advancement following Microeconomic Theory 1 and as a foundation for the subsequent studies. It covers in depths classical topics of general equilibrium theory, welfare economics/social choice/public economics, information economics and mechanism design.

Timetable

4 hours of lectures per week for 10 weeks

1-hour tutorial per week for 10 weeks

On campus

Requirements of Entry

Students must be registered on one of the associated programmes listed in this course specification.

Excluded Courses

None

Co-requisites

None

Assessment

ILO being assessed

Main Assessment In: April/May

Course Aims

The aim is to provide a solid theoretical background in the principal areas of classical Microeconomic Theory of the theories of competitive markets, mechanism design, contracts, etc, at a postgraduate level, using a wide range of advanced forefront mathematical modelling tools, and to give students extensive and detailed knowledge and specialized skills, which would allow them to carry out their own original and creative research in this area.

Course will focus on deep conceptual understanding, critical analysis, detailed formal modelling, and extensive problem-solving at the level of forefront current research.

Intended Learning Outcomes of Course

By the end of this course students will be able to:

 

1. Use advanced microeconomic models and theoretical tools to examine economic situations and structured examples.

2. Analyse how microeconomic theory relates to policy considerations in economic contexts.

3. Reflect on analytical approaches and theoretical resources that can inform practice in economically relevant domains.

4. Evaluate economic information and theoretical constructs to support considered reasoning within policy-relevant discussions.

5. Develop modelling techniques to investigate complex economic questions in formal or illustrative settings.

6. Apply quantitative methods to examine microeconomic patterns and reflect on their possible implications in interpretive policy contexts.

Minimum Requirement for Award of Credits

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.