ECONS520-21B (HAM)

Microeconomic Analysis - Theory

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
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Paper Description

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This course represents Masters-level training in microeconomic theory and focuses on the application of microeconomic analysis.

This course is a comprehensive, covering the traditional mainline areas of consumer theory, risk and information economics, the theory of the firm, the theory of markets and general equilibrium theory. The course will also cover principles of game theory, the formal analysis of strategy and consider some applications and standard models in the theory of oligolistic markets. Fundamental basic algebra and calculus will be called upon to develop an understanding of the aforementioned topics.

Along the way, we will critically examine some selected papers in applied theory and microeconometrics, asking what inspired them, what role economic theory played in them, how econometric techniques were used to test key hypotheses, and how theoretical and empirical findings were used to inform policy.

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Paper Structure

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The weekly two-hour class blocks will comprise primarily of lectures. In the last few weeks of the course, students will provide presentations on influential journal articles. More information on the presentations will be provided in class
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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • 1. Reach an improved level of understanding of microeconomic theory, through mathematics and the empirical application of the theory
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  • 2. Understanding the role of assumptions
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  • 3. Apply and explain appropriate models
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  • 4. Using economic theory to understand and evaluate policy proposals
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  • 5. Communicate effectively about economic issues
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  • 6. Utilise basic tools and concepts required to read and understand research published in core journals
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Assessment

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This paper is 100% internally assessed. There is no final examination for this paper.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Assignment One
6 Aug 2021
1:00 PM
15
  • In Class: In Lecture
2. Test 1
20 Aug 2021
1:00 PM
25
  • In Class: In Lecture
3. Assignment Two
8 Oct 2021
1:00 PM
15
  • In Class: In Lecture
4. Test 2
15 Oct 2021
1:00 PM
25
  • In Class: In Lecture
5. Presentation & Written Report
29 Oct 2021
5:00 PM
20
  • Online: Submit through Moodle
  • Presentation: In Class
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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*Readings for each topic are provided in the Reading List for this paper (accessible through Moodle).

Nicholson, W. and Synder, C. Microeconomic Theory: Basic Principles & Extensions. Cengage Learning, 2017.

Osborne, M. and A. Rubinstein A Course in Game Theory. MIT-Press, 1994.

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Recommended Readings

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Deaton, A. and Muellbauer, J. Economics and Consumer Behaviour. Cambridge University Press, 1980.

Jehle, G. and Reny, P. Advanced Microeconomic Theory. Pearson, 2011.

Osborne, M. An Introduction to Game Theory. Oxford University Press, 2003.

Watson, J. Strategy: An Introduction to Game Theory, 3rd ed. Norton, 2013.

DellaVigna, S. (2009) 'Psychology and Economics: Evidence from the Field' Journal of Economic Literature, 47(2): 315-375

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Other Resources

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Specify any other resources that students will benefit from accessing. You may like to include other learning resources such as online recordings etc.
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Online Support

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All course materials and information is available via Moodle
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Workload

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This is a 15 point paper. The expected workload per point is 10 hours of work. Therefore, the expected total workload for the paper is 150 hours.
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Linkages to Other Papers

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Note any linkages to other papers where the linkage is of importance.
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Prerequisite(s)

Prerequisite papers: ECON202, ECONS202, ECON302 or ECONS302 and one of ECON204 or ECONS205

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON502, ECON520 and ECON542

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