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ES50094: Advanced economic theory

Follow this link for further information on academic years Academic Year: 2014/5
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period: Semester 2
Further information on unit assessment Assessment Summary: CW 40%, EX 60%
Further information on unit assessment Assessment Detail:
  • Coursework (CW 20%)
  • Coursework (CW 20% - Qualifying Mark: 40)
  • Exam (EX 60% - Qualifying Mark: 40)
Further information on supplementary assessment Supplementary Assessment: Reassessment exam (where allowed by programme regulations)
Further information on requisites Requisites: Before taking this unit you must take ES50071
Further information on descriptions Description: Aims:
This course aims to familiarise students with advanced tools in microeconomic and macroeconomic theories. The module aims at enabling the students to apply these analytical tools to understand the mechanisms which generate economic data and the development and conduct of public policy. The appreciation of the analytical clarity will help the students to identify the important elements of the economic problems they are dealing with using the merited degree of complexity.

Learning Outcomes:
By the end of this module the students will be able to:
* solve various types of static as well dynamic optimisation problems faced by economic agents
* apply analytical tools and mathematical techniques to model economic interactions in various settings (search, bargaining etc.)
* analyse the dynamic structure of macroeconomic models allowing for expectations.

Ability to develop logically rigorous arguments.
Ability to use effectively mathematical and statistical techniques to construct and interpret economic models.
Ability to think critically on the suitability of economic models.

Dynamic Optimization
Dynamic Games and Applications
Market Equilibria with different types of frictions (Search, Industrial Organization models with uncertainty and entry)
General Equilibrium (both certainty and uncertainty cases)
Asset Pricing
Economies of overlapping generations
Models of Business Cycles.
Further information on programme availabilityProgramme availability:

ES50094 is Optional on the following programmes:

Department of Economics
* This unit catalogue is applicable for the 2014/15 academic year only. Students continuing their studies into 2015/16 and beyond should not assume that this unit will be available in future years in the format displayed here for 2014/15.
* 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.