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ES50077: Incentives & performance

Follow this link for further information on academic years Academic Year: 2012/3
Follow this link for further information on owning departmentsOwning Department/School: Department of Economics
Follow this link for further information on credits Credits: 6
Follow this link for further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Follow this link for further information on period slots Period: Semester 2
Follow this link for further information on unit assessment Assessment: CW 30%, EX 70%
Follow this link for further information on supplementary assessment Supplementary Assessment: ES50077A RESIT EXAM (where allowed by programme regulations)
Follow this link for further information on unit rules Requisites: Before taking this unit you must take ES50071
Follow this link for further information on unit content Description: Aims:
To provide a systematic and analytical review of the developments in the economics of information.
To enable students to comprehend the effects of asymmetric information on the incentives and performance of agents in various situations of economic/financial interactions.

Learning Outcomes:
On successful completion of the unit students should be able to:
* Demonstrate awareness and understanding of the key concepts of moral hazard, adverse selection, signalling, mechanism design and contracts;
* Apply the analytical tools and techniques to formally model and analyse and critically discuss the consequences of information asymmetries in a variety of applied settings.

Skills:
Ability to understand and reflect the causes and consequences of moral hazard and adverse selection;
Ability to think analytically and develop rigorous arguments in the context of imperfect information;
Ability to select and use appropriate concepts and ideas to produce a coherent analysis of information diffusion conditions in a variety of market settings.

Content:
Moral hazard, Adverse selection, Signalling, Mechanism design, Performance evaluation and Incentive contracts. Applications from Industrial Organization, Banking and Finance.
Follow this link for further information on programme availabilityProgramme availability:

ES50077 is Optional on the following programmes:

Department of Economics
Notes:
* This unit catalogue is applicable for the 2012/13 academic year only. Students continuing their studies into 2013/14 and beyond should not assume that this unit will be available in future years in the format displayed here for 2012/13.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.