|
 Academic Year:
| 2012/3 |
| Owning Department/School:
| Department of Economics |
| Credits:
| 6 |
| Level:
| Masters UG & PG (FHEQ level 7) |
| Period: |
Semester 2 |
| Assessment:
| CW 30%, EX 70% |
| Supplementary Assessment: | ES50077A RESIT EXAM (where allowed by programme regulations) |
| Requisites:
| Before taking this unit you must take ES50071 |
| 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. |
| Programme availability: |
ES50077 is Optional on the following programmes:Department of Economics
|