ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Advanced Topics in Microeconomics
Code ULMR806
Coordinator Professor M Lombardi
Economics
Michele.Lombardi@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level 8 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours           24

 24
Timetable (if known)              
Private Study 126
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual mid-term test Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes  24    50       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Individual presentation and discussion Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: No  45    50       

Aims

This module aims to:

Introduce microeconomics models essential for PhD students to conduct advanced research in microeconomic theory;

Provide students with an advanced understanding of the most relevant models and enable them to choose the most appropriate one for specific questions;

Prepare students to work with recent models;

Develop students’ presentation and writing skills;

Prepare students to critically evaluate and communicate current research results.

Learning Outcomes

(LO1) Students will be able to explain and use the model-based approach and argumentation in economics.

(LO2) Students will be able to apply economic concepts and abstract theorising as tools for decision making; rigorously analyse microeconomic issues, including the implications of external events and ethical social consequences of economic situations.

(LO3) Students will be able to use analytical tools of microeconomic analysis to solve problems in the core areas above; demonstrate ideas and solve problems using appropriate graphical, algebraic, and calculus-based techniques.

(LO4) Students will be able to explain and discuss the core principles of collective decision making.

(LO5) Students will be able to explain and discuss the core principles of microeconomics in the areas of mechanism design and implementation theory.

(LO6) Students will be able to interpret the economic implication of the main microeconomic models.

(LO7) Students will be able to critically evaluate research papers in the field of microeconomic theory.

(S1) Research skills.
Students will develop research skills during lectures and seminars and through reading journal articles.

(S2) Problem solving skills.
Students will develop problem solving skills through problem sets and the coursework assignments.

(S3) Numeracy.
Students will develop numeracy through computation in the coursework assignment and the seminar tasks.

(S4) Written communication skills.
Student will develop written communication skills in the coursework assignments.

(S5) Lifelong learning.
Students will develop lifelong learning through the development of research capacity and critical thinking.

Teaching and Learning Strategies

Workshops x 24 hours (2 hours per week)

Self-directed learning x 126 hours
Students should make use of their self-directed learning time to read the module textbooks and journal articles, work through examples, solve problems and complete exercises in addition to those covered in learning materials.

Syllabus
 

Indicative syllabus:

The module will cover a selection of the following topics:

Preference and choice

Consumer choice

Classical Demand Theory

Aggregate Demand

Production

Choice Under Uncertainty

Competitive Markets

Externalities and Public Goods

Market Power

Adverse Selection, Signalling and Screening

The Principal-Agent Model

General Equilibrium and Its Basic Welfare Properties

Some Foundations For Competitive Equilibria

General Equilibrium Under Uncertainty

Social Choice Theory

Incentives and Mechanisms

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.