Advanced Microeconomics (L1061)
15 credits, Level 5
This module covers the topics of general equilibrium and welfare economics, including the important issue of market failure. General equilibrium is illustrated using Sen's entitlement approach to famines and also international trade. Welfare economics covers concepts of efficiency and their relationship to the market mechanism. Market failure includes issues such as adverse selection and moral hazard, and applications are drawn from health insurance, environmental economics and the second-hand car market.
20%: Coursework (Essay)
80%: Examination (Unseen examination)
Contact hours and workload
This module is 150 hours of work. This breaks down into 27 hours of contact time and 123 hours of independent study.
This module is running in the academic year 2019/20. We also plan to offer it in future academic years. It may become unavailable due to staff availability, student demand or updates to our curriculum. We’ll make sure to let our applicants know of such changes to modules at the earliest opportunity.