EC301-15 Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information
Introductory description
EC301-15 Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information
Module 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 EC220.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
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.
Learning outcomes
By the end of the module, students should be able to:
- Subject knowledge and understanding:…demonstrate an appreciation of the use and limitations of formal mathematical approaches to economic theory and applications. 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: Test, final exam.
- Subject knowledge and understanding:…demonstrate a comprehensive understanding of the main results and open questions in the chosen areas. 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: Test, 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: Test, 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: Test, 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: Test, 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: Test, 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: Test, exam.
Indicative reading list
Please see Talis Aspire link for most up to date list.
View reading list on Talis Aspire
Subject specific skills
Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Creative thinking
Strategic thinking
Problem-solving
Abstraction
Analysis of incentives
Concepts of Simultaneity and Endogeneity
Analysis of optimisation
Understanding of Uncertainty and Incomplete Information
Transferable skills
Students will have the opportunity to develop:
Research skills
Numeracy and quantitative skills
Data-based skills
IT skills
Written communication skills
Oral communication skills
Team work skills
Mathematical, statistical and data-based research skills
Study time
| Type | Required |
|---|---|
| Lectures | 20 sessions of 1 hour (13%) |
| Seminars | 4 sessions of 1 hour (3%) |
| Private study | 126 hours (84%) |
| Total | 150 hours |
Private study description
Private study will be required in order to prepare for seminars/classes, to review lecture notes, to prepare for forthcoming assessments, tests, and exams, and to undertake wider reading around the subject.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Students can register for this module without taking any assessment.
Assessment group D4
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| In Class Test | 40% | No | |
|
1.5 hour, plus 15 minutes reading time |
|||
| Examination | 60% | No | |
|
A paper which examines the course content and ensures learning outcomes are achieved.
|
|||
Assessment group R3
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Examination - Resit | 100% | No |
Feedback on assessment
The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback for assignments is returned either on a standardised assessment feedback cover sheet which gives information both by tick boxes and by free comments or via free text comments on tabula, together with the annotated assignment. For tests and problem sets, students receive solutions as an important form of feedback and their marked assignment, with a breakdown of marks and comments by question and sub-question. Students are informed how to access their feedback, either by collecting from the Undergraduate Office or via tabula. Module leaders often provide generic feedback for the cohort outlining what was done well, less well, and what was expected on the assignment and any other common themes. This feedback also includes a cumulative distribution function with summary statistics so students can review their performance in relation to the cohort. This feedback is in addition to the individual-specific feedback on assessment performance.
Pre-requisites
EC202-30 Microeconomics 2 AND EC220-15 Mathematical Economics 1A OR
EC204-30 Economics 2 AND EC220-15 Mathematical Economics
1A OR
EC238-15 Economics 2: Microeconomics AND EC220-15 Mathematical Economics 1A
Not available to non-final year students on Economics-based degrees.
To take this module, you must have passed:
Courses
This module is Optional for:
-
TECA-L1PA Postgraduate Taught Economics (Diploma plus MSc)
- Year 1 of L1PA Economics (Diploma plus MSc)
- Year 2 of L1PA Economics (Diploma plus MSc)
-
UECA-3 Undergraduate Economics 3 Year Variants
- Year 3 of L100 Economics
- Year 3 of L116 Economics and Industrial Organization
-
UECA-4 Undergraduate Economics 4 Year Variants
- Year 4 of LV16 Economics & Economic History with Study Abroad
- Year 4 of L103 Economics with Study Abroad
- Year 4 of LM1H Economics, Politics & International Studies with Study Abroad
- Year 3 of UECA-LM1D Undergraduate Economics, Politics and International Studies
-
UPHA-L1CA Undergraduate Economics, Psychology and Philosophy
- Year 3 of L1CA Economics, Psychology and Philosophy
- Year 3 of L1CC Economics, Psychology and Philosophy (Behavioural Economics Pathway)
- Year 3 of L1CD Economics, Psychology and Philosophy (Economics with Philosophy Pathway)
- Year 3 of L1CE Economics, Psychology and Philosophy (Philosophy and Psychology Pathway)
-
UPHA-L1CB Undergraduate Economics, Psychology and Philosophy (with Intercalated Year)
- Year 4 of L1CG Economics, Psychology and Philosophy (Behavioural Economics Pathway) (with Intercalated Year)
- Year 4 of L1CH Economics, Psychology and Philosophy (Economics with Philosophy Pathway) (with Intercalated Year)
- Year 4 of L1CJ Economics, Psychology and Philosophy (Philosophy and Psychology Pathway) (with Intercalated Year)
- Year 4 of L1CB Economics, Psychology and Philosophy (with Intercalated Year)
-
USTA-G300 Undergraduate Master of Mathematics,Operational Research,Statistics and Economics
- Year 3 of G300 Mathematics, Operational Research, Statistics and Economics
- Year 4 of G300 Mathematics, Operational Research, Statistics and Economics
- Year 3 of UMAA-GL11 Undergraduate Mathematics and Economics
- Year 4 of UECA-GL12 Undergraduate Mathematics and Economics (with Intercalated Year)
- Year 4 of USTA-G1G3 Undergraduate Mathematics and Statistics (BSc MMathStat)
-
USTA-G1G4 Undergraduate Mathematics and Statistics (BSc MMathStat) (with Intercalated Year)
- Year 4 of G1G4 Mathematics and Statistics (BSc MMathStat) (with Intercalated Year)
- Year 5 of G1G4 Mathematics and Statistics (BSc MMathStat) (with Intercalated Year)
- Year 4 of UPHA-V7MM Undergraduate Philosophy, Politics and Economics (with Intercalated year)
This module is Option list A for:
- Year 3 of USTA-Y602 Undergraduate Mathematics,Operational Research,Statistics and Economics
- Year 4 of USTA-Y603 Undergraduate Mathematics,Operational Research,Statistics,Economics (with Intercalated Year)
This module is Option list B for:
- Year 4 of USTA-G300 Undergraduate Master of Mathematics,Operational Research,Statistics and Economics
- Year 5 of USTA-G301 Undergraduate Master of Mathematics,Operational Research,Statistics and Economics (with Intercalated
- Year 3 of USTA-GG14 Undergraduate Mathematics and Statistics (BSc)
- Year 4 of USTA-GG17 Undergraduate Mathematics and Statistics (with Intercalated Year)
This module is Option list C for:
-
USTA-G301 Undergraduate Master of Mathematics,Operational Research,Statistics and Economics (with Intercalated
- Year 3 of G30F Master of Maths, Op.Res, Stats & Economics (Econometrics and Mathematical Economics Stream) Int
- Year 4 of G30F Master of Maths, Op.Res, Stats & Economics (Econometrics and Mathematical Economics Stream) Int
-
UPHA-V7ML Undergraduate Philosophy, Politics and Economics
- Year 3 of V7MP Philosophy, Politics and Economics (Bipartite)
- Year 3 of V7ML Philosophy, Politics and Economics (Tripartite)
-
UPHA-V7MM Undergraduate Philosophy, Politics and Economics (with Intercalated year)
- Year 4 of V7MS Philosophy, Politics and Economics (Bipartite with Economics Major) (with Intercalated Year)
- Year 4 of V7MQ Philosophy, Politics and Economics (Bipartite) with Intercalated Year
- Year 4 of V7MM Philosophy, Politics and Economics (Tripartite) (with Intercalated year)
This module is Option list D for:
- Year 3 of USTA-G1G3 Undergraduate Mathematics and Statistics (BSc MMathStat)
- Year 3 of UPHA-V7ML Undergraduate Philosophy, Politics and Economics