AP2EE5-Economics 4

Module Provider: Agr and Food Econ
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Spring term module
Pre-requisites: AP1EE3 Economics 1 AP1EE1 Economics 2 and
Non-modular pre-requisites:
Co-requisites: AP2EE4 Economics 3
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Ariane Kehlbacher

Email: a.kehlbacher@reading.ac.uk

Summary module description:

This course builds on the theory of perfect competition introduced in Economics 1-3. Different market structures like monopoly, oligopoly and monopolistic competition are examined as well as the reasons for market failure including externalities and imperfect information.

Assessable learning outcomes:
At the end of this course students will: • Understand the theory of Monopolistic and Oligopolistic firms. • Be able to explain how different pricing strategies arise in imperfect competition and understand the effects of these on welfare. • Be able to use game theory to understand how imperfectly competitive firms interact strategically. • Understand the theory of general equilibrium. • Be able to explain how markets fail. • Understand how governments can intervene to correct market failure.

Additional outcomes:

Outline content:
1. Monopoly
2. Monopolistic competition
3. Oligopoly
4. Game theory
5. General Equilibrium and Welfare
6. Missing markets

Brief description of teaching and learning methods:

Contact hours:
  Autumn Spring Summer
Lectures 18
Guided independent study 82
Total hours by term 100.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Class test administered by School 100

Other information on summative assessment:
Summative assessment will be by two tests (50% each) consisting of multiple choice and short answer questions which are answered midway through, and at the end, of the course.

Formative assessment methods:
Practice tests will be provided for every topic in the course. The tests will be administered through Blackboard.

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:

    Requirements for a pass:
    40% overall.

    Reassessment arrangements:
    By multiple choice and short answer question examination in August/September.

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding:
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 31 March 2017

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