Applied Microeconomics
Duration for this module
2 ½ days
Assessment
100% Assignment: Individual maximum 3,000 words
Aims:
This module aims to give students an understanding of the economy as an evolving complex adaptive system of distributed information and knowledge, the way information is aggregated by price systems and how this process is affected by asymmetries in the spread of this information.
By the end of this unit, the student should be able to:
- Appreciate the strengths and weaknesses of alternative forms of economic organisation in solving the fundamental problem of co-ordination of productive resources in a complex adaptive system.
- Understand the circumstances under which decentralised market systems work imperfectly.
