Intermediate Microeconomic Theory 2

ECON20512 Intermediate Microeconomic Theory 2 10 Semester 2 Undergraduate Level 2 Shomak Chakrabarti Unit coordinator Economics 1 FHEQ level (Framework for Higher Education Qualifications) ' Middle part of Bachelors ' European Credit Transfer & Accumulation System Rating : 5.0 This course aims to introduce students to rigorous analysis of the workings of the factor (i.e., labour and capital) markets and how uncertainty and asymmetric information affect the decision-making process of market actors.At the end of this course unit, it is expected that you will be able to demonstrate your understanding of: (i) labour demand and supply, (ii) intertemporal choice, (iii) capital market and real interest rate, (iv) expected utility theory, (v) risk aversion, (vi) optimal insurance, (vii) risky asset investment, and (viii) asymmetric information. This course aims to introduce students to rigorous analysis of the workings of the factor (i.e., labour and capital) markets and how uncertainty and asymmetric information affect the decision-making process of market actors.At the end of this course unit, it is expected that you will be able to demonstrate your understanding of: (i) labour demand and supply, (ii) intertemporal choice, (iii) capital market and real interest rate, (iv) expected utility theory, (v) risk aversion, (vi) optimal insurance, (vii) risky asset investment, and (viii) asymmetric information. This course aims to introduce students to rigorous analysis of the workings of the factor (i.e., labour and capital) markets and how uncertainty and asymmetric information affect the decision-making process of market actors. At the end of this course unit, it is expected that you will be able to demonstrate your understanding of:1.     Labour demand and supply.2.     Intertemporal choice.3.     Capital market and real interest rate.4.     Expected utility theory.5.     Risk aversion.6.     Optimal insurance purchasing.7.     Risky asset investment.8.     Asymmetric information. Analytical skills Abstract and numerical reasoning. Problem solving Applying knowledge to unfamiliar problems. Written communication Using words, mathematics, and diagrams to explain, solve problems, and make arguments. Producing documents with text, mathematics, and diagrams. Academic writing. Provisional<ul><li>Factors Markets Labour demand and supply; Intertemporal choice; Capital Market and real interest rate.</li><li>Uncertainty Decisions under risk; Expected utility Theory; Risk aversion; Optimal insurance; Risky asset investment.</li><li>Asymmetric Information Adverse selection; Moral hazard; Signalling.</li></ul> Online Learning and Guided Self-Study 0 Other 100% 85% Exam15% Mid-term test Weekly tutorial: A problem set containing questions designed to reinforce the understanding of the material covered in the lectures is assigned to each tutorial. Students are asked to attempt the questions before attending each tutorial, and get the questions answered by the tutor during the tutorial session. ECON20501 Intermediate Microeconomic Theory 1 Co-Requisite Compulsory Co-Requisite: ECON20501ECON20501 Micro Analysis 3 Y <ul> <li>Nicholson, Walter and Christopher Snyder, Intermediate Microeconomics and its Applications, Cenage Learning, 2015.</li> <li>Varian, Hal. R., Intermediate Microeconomics with Calculus, Norton, 2014.</li></ul> 0 0 0 For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.