ECM191-Microeconomics III

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites:
Modules excluded:
Current from: 2020/1

Module Convenor: Dr Joo Young Jeon


Type of module:

Summary module description:

This module introduces some of the advanced topics in microeconomic theory, including bargaining games, decision making under uncertainty, and behavioural economics. Some additional topics such as market failure may also be discussed. The module assumes the students to be familiar with the core topics of consumer theory, production theory, and game theory.


This module aims to provide students with an advanced exposure to topics in microeconomics related to decision making and behaviour. 

Assessable learning outcomes:

At the end of the module students should be able to:

(1) Critically assess microeconomic concepts and principles;

(2) Evaluate whether the empirical evidence (observational or experimental) supports the theoretical predictions;

(3) Appreciate theoretical concepts and the circumstances in which they apply.

Additional outcomes:

Problem sets and articles for discussion will be provided during the module. These will provide an opportunity for students to develop their analytical and problem-solving skills, as well as their ability to understand technical articles and apply theoretical knowledge to real world situations. 

Outline content:

Core topics to be covered include: decision making under risk and uncertainty; decision making over time.

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the weekly lectures, together with handouts covering the material discussed, examples, exercises and solutions to facilitate understanding of key concepts. Students will be expected to supplement the lectures with the recommended reading of articles and book chapters and to do some research using the library, internet or other resources. Office hours are available for students to consult the lecturer on an individual basis. 

Contact hours:
  Autumn Spring Summer
Lectures 10
Guided independent study: 70 20
Total hours by term 80 20
Total hours for module 100

Summative Assessment Methods:
Method Percentage
Written exam 60
Set exercise 40

Summative assessment- Examinations:

One 2-hour unseen written paper, which will cover all of the module material.

Postgraduate examinations are held in the summer term. 

Summative assessment- Coursework and in-class tests:

Coursework will count for 40% of the overall mark and comprises one set exercises to be submitted in the Spring term. 

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Assessment requirements for a pass:

A minimum weighted average mark of coursework and examination of 50%.

Reassessment arrangements:

Re-examination for all modules takes place in August/September of the same year.

Re-assessment is by examination only; coursework is not included at the second attempt.

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: 26 October 2020


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