Advanced Microeconomics of Consumers, Markets and Welfare - EC802

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2020 to 2021
(version 4)
Autumn 7 15 (7.5) checkmark-circle


This module examines the workings of the economic system from a disaggregated viewpoint. It is a standard module on advanced microeconomic theory and contains the basics of general equilibrium, including Walrasian equilibrium. It provides students with the toolbox essential for understanding further advanced modules in their programme of choice. Fundamental topics dealt with encompass utility theory and the theory of social choice and welfare. Special attention is given to risk and uncertainty. All these topics are presented in an advanced manner and all are developed in mathematical frameworks. The notion of the understanding of a number of mathematical proofs of economic ideas is central to the curriculum.


This module appears in the following module collections.

Contact hours

Total contact hours: 30
Private study hours: 120
Total study hours: 150

Method of assessment

20% In Course Test (ICT 1 hour)
80% Examination (2 hours)

Indicative reading

• Mas-Colell, A., Whinston, M. D., and Green, J. R. Microeconomic Theory. Oxford University Press. 1995
• Varian, Hall. Microeconomic Analysis. 3rd Edition. Viva Books 2010
• Cowell, Frank. Microeconomics: Principles and Analysis. Oxford University Press 2006
• Kreps, David. A Course in Microeconomic Theory. Princeton University Press 1990

See the library reading list for this module (Canterbury)

Learning outcomes

On successfully completing the module students will be able to:

• construct complex economic arguments related to sustainable economic growth and environmental valuation in developing economies context
• become familiar with rigorous tools of theoretical analysis and empirical modelling used in environmental valuation
• comprehensively understand monetary techniques commonly used for the economic valuation of environmental impacts and critically evaluate their limitations in a context of a developing economy
• show how environmental values can be incorporated into development-stimulating economic decision making at the national and project level
• demonstrate critical understanding of the political economy of environmental policy and sustainable growth in developing economies
• write profound and coherent essays and explain complex ideas in terms of intuitive arguments
• analyse complex ideas at high level of abstraction and apply them in the problem solving through the use and application of the different models presented
• present, communicate and debate analytically challenging models and methods to (with) critical and educated audience


  1. Credit level 7. Undergraduate or postgraduate masters level module.
  2. ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
  3. The named convenor is the convenor for the current academic session.
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