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 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.
Private Study: 120
Contact Hours: 30
Total: 150
Compulsory to:
• MSc Economics
• MSc Economics and Econometrics
• MSc Development Economics
Main Assessment Methods:
Take-Home Test (60 minutes) 20%
Exam (2 Hours) 80%
Reassessment: 100% exam
*Exams will be online*
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 Apply their improved economic and enhanced problem solving abilities to advanced microeconomic theory
2 Use rigorous mathematical tools commonly found in advanced microeconomic analysis
3 Extensively cover the following topics at an advanced level: preferences, utility and demand; duality; production; existence of general equilibrium;; price equilibrium; and uncertainty
4 Critically understand the notion of a mathematical proof compared to an intuitive explanation in economics.
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