The objective of this module is to bring students' ability in microeconomic theory up to the standard required for independent research. It builds on the microeconomics that would be covered in a standard MSc program. Concepts that a student should be familiar with, like Nash equilibrium, will be covered in more depth. Students will also be exposed to concepts that are at the forefront of modern research but not typically covered at the MSc level, such as psychological game theory, learning in games, and cooperative game theory. Specific topics will include:
The objective of this module is to bring students' ability in microeconomic theory up to the standard required for independent research. It builds on the microeconomics that would be covered in a standard MSc program. Concepts that a student should be familiar with, like Nash equilibrium, will be covered in more depth. Students will also be exposed to concepts that are at the forefront of modern research but not typically covered at the MSc level, such as psychological game theory, learning in games, and cooperative game theory. Specific topics will include:
• Revealed preference.
• Choice with risk and uncertainty including prospect theory and preference reversals.
• Nash equilibrium, refinement and selection
• General Equilibrium
• Principal-agent problem including signalling and screening
• Repeated and dynamic games and learning and communication in games
• Collective action problems
• Networks
• Mechanism design
Private Study: 130
Contact Hours: 20
Total: 150
It will be an optional module on PhD Economics and PhD Agri-environmental Economics
Presentation (25 minutes) (50%)
Five Individual Problem Sets (10% each)
Reassessment Instrument: 100% coursework
The University is committed to ensuring that core reading materials are in accessible electronic format in line with the Kent Inclusive Practices.
The most up to date reading list for each module can be found on the university's reading list pages.
See the library reading list for this module (Canterbury)
On successfully completing the module students will be able to:
1 Explain in detail fundamental microeconomic and game theoretic concepts
2 Critically assess commonly used game theoretic models
3 Apply economic theory and game theory in studying novel decision making contexts
4 Interpret and critically understand cutting edge microeconomic theoretical research.
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