EC301A-Microeconomics II.1

Module Provider: Economics
Number of credits: 20 [10ECTS credits]
Level: H (Honours)
Terms in which taught: Autumn and Spring
Module Convenor: Dr N Asadullah
Pre-requisites: EC201A
Co-requisites:
Modules excluded:
Module version for: 2008/9

Email: m.asadullah@reading.ac.uk

Aims:

Assessable learning outcomes:
This module is a continuation of EC201A. At the end of the module students should be able to:
Understand and explain (a) the efficiency of competitive markets, and (b) market failure.
Apply the above analysis to a range of practical and policy relevant issues.

Additional outcomes:

Outline content:
Welfare economics and microeconomic policy:
The Pareto efficiency (and Pareto optimality) of competitive markets.
Consumer surplus, produce surplus and market efficiency; the impact of government policies.
Efficient pricing; regulation of monopolies; second best. Why privatise?
Market failure: public goods and externalities.
Introductory game theory.
Introduction to economics of information.

Brief description of teaching and learning methods:
Lectures will develop all the main material. Practicals/seminars will cover exercise material designed to facilitate understanding of lecture topics. Office hours will be available for students to consult lecturers on an individual basis.

Contact hours:

	Autumn	Spring	Summer
Lectures	9 x 2 hrs	4 x 2 hrs	1 x 2 hrs
Tutorials/seminars	4 x 1hr	2 x 1hr
Practicals
Other contact (eg study visits)
Total hours	22	10	2
Number of essays or assignments	Compulsory: either 1 test or 1 essay	Compulsory: either 1 test or 1 essay
Other (eg major seminar paper)	Optional essays (not for assessment)	Optional essays (not for assessment)

Assessment:
Coursework
Either two compulsory tests or essays, or one compulsory test and one compulsory essay.

Relative percentage of coursework
Coursework has a weight of 20% in the final assessment mark.

Penalties for late submission
Penalties for late submission will be in accordance with the University policy.
Unless an extension has been agreed beforehand, any work submitted after the deadline will be subject to a 10 out of 100 mark penalty deduction for work submitted between one and seven calendar days late, after which zero will be awarded.

Examination
One 2-hour unseen written paper.
Part 3 Final examinations begin in the third week of the Summer term.

Requirements for a pass
A minimum mark of 40%.

Reassessment arrangements
Re-examination for Finals takes place in August/September of the same year.

Last updated: 1 August 2008