ECON 20512 Microeconomic Analysis 4
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Microeconomic Analysis 4
ECON 20512
Course unit overview
This course aims to introduce students to the analysis at an intermediate level of factor (i.e., labour and capital) markets and on the role of uncertainty and asymmetric information in the decision-making process of consumers and producers.
Learning outcomes
At the end of this course unit, it is expected that students will be able to demonstrate their understanding of:
1. Labour demand and supply.
2. Intertemporal choice.
3. Capital market and real interest rate.
4. Expected utility theory.
5. Risk aversion.
6. Optimal insurance purchasing.
7. Risky asset investment.
8. Asymmetric information.
Employability skills
Analytical skills
Problem solving Written communication
Others
Syllabus
Factors Markets
Labour demand and
Abstract and numerical reasoning. Critical reflection and evaluation. Decision-making.
Applying knowledge to unfamiliar problems.
Using words, mathematics, and graphical analysis to explain and solve economic problems, and to express logical arguments. Producing documents with text, diagrams, and mathematics. Academic writing.
Using economic modelling; understanding the role of incentives and strategic thinking. Planning and implementing independent study using library, electronic and online resources. Work to set deadlines.
supply;
Intertemporal choice;
Capital Market and real interest rate.
Uncertainty
Decisions under risk;
Expected utility Theory;
Risk aversion;
Optimal insurance;
Risky asset investment.
Asymmetric Information
Adverse selection;
Moral hazard;
Signalling.
Teaching and learning method
Online Learning and Guided Self-Study.
Assessment methods
85% Final Exam.
15% Mid-term test.
Feedback methods
Students receive feedback from lectures, tutorials & office hours, and after the corresponding online test. A problem set containing questions designed to reinforce the understanding of the material covered in the lectures is assigned to each tutorial. Students are asked to attempt the questions before attending each tutorial, and get the questions answered by the tutor during the tutorial session.
Requisites
ECON20501 Microeconomic Analysis 3 Co-Requisite Compulsory
Available as free choice? Y
Recommended reading
Nicholson, Walter and Christopher Snyder, Intermediate Microeconomics and its
Applications, Cenage Learning, 2015.
Varian, Hal. R., Intermediate Microeconomics with Calculus, Norton, 2014.
Additional notes
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.
2022-05-26