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 INFORMATIONAL ASYMMETRIES & MECHANISM DESIGN
Code ECON928
Coordinator Prof DM Demougin
Economics, Finance and Accounting
Dominique.Demougin@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2017-18 Level 7 FHEQ Second Semester 15

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

None 

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:

EFPR

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 18

18

        36
Timetable (if known)              
Private Study 114
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Coursework  2500 words  Semester 2  50  Yes  Standard UoL penalty applies  Individual assignment 1 
Coursework  2500 words  Semester 2  50  Yes  Standard UoL penalty applies  Individual assignment 2 Notes (applying to all assessments) - none 

Aims

To introduce students to advanced microeconomic models.

To provide students with the analytical skills to proceed to professional research.


Learning Outcomes

Students should be able to solve advanced analytical problems which appear frequently in microeconomic theory.

Students should feel comfortable using economic models and be able to read academic research papers which use such models.


Teaching and Learning Strategies

Lecture -

Seminar -


Syllabus

1. The rent extraction-efficiency trade-off in adverse selection problems.

2. Incentive and Participation constraints in adverse selection problems.

3. Moral-hazard: the basic trade-offs.

4. Incentive and Participation constraints with moral-hazard.

5. Non-verifiability.

6. Mixed models.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.
Explanation of Reading List: