Microeconomic Analysis: General Equilibrium, Public Decision and Information

Microeconomic Analysis: General Equilibrium, Public Decision and Information

Year: 2018-2019
Course code: ECON4020
Course credits: 15
Taught: Semester 1
Course co-ordinator: Dr John Levy
Course Lecturers:
Prof Takashi Hayashi, Dr John Levy
Entry requirements: Normally admission to an honours programme in Economics
Available to visiting students:Yes
Contact for more informationGillian Weir

Course description

This course aims to give students a thorough grounding in undergraduate microeconomic theory, which focuses on understating the role of price system in resource allocation and its limitations.  It covers consumer theory, producer theory, general equilibrium, partial equilibrium, monopoly, public goods, externalities and market failure, efficiency and fairness.  By the end of this course students should be able to apply the economic theory models in the course to address contemporary questions in the theory of economic policy; be able to manipulate formal models as simplified representations of reality to generate policy predictions; present logical and well-argued written outlines of economic models; explain, in non-technical language, key implications of theoretical models for modern debates in economic policy; explain key results in advanced modern microeconomic theory and demonstrate how game theory can be used to generate predictions of particular economic outcomes

Learning and teaching methods

20 hours of lectures (10 x 2 hours), Monday, 14:00-16:00, and 4 1-hour tutorials (held fortnightly at varying times).

Course texts

Hal R. Varian, Intermediate Microeconomics with Calculus A MODERN APPROACH

http://books.wwnorton.com/books/webad.aspx?id=4294979434 

Assessment

A 24-hour take-home exam (30%)
A 2-hour degree exam (April/May) (70%)