Programme And Module Handbook
Course Details in 2021/22 Session

If you find any data displayed on this website that should be amended, please contact the Curriculum Management Team.

Module Title LM Risk, Uncertainty and Information
SchoolBirmingham Business School
Department Economics
Module Code 08 03611
Module Lead Dr Michalis Drouvelis
Level Masters Level
Credits 10
Semester Semester 2
Restrictions none
Exclusions none

The module deals with questions of how economic agents make decisions in situations under risk and uncertainty. Topics discussed may include: foundations of expected utility theory and its applications, violations of expected utility axioms, alternative models and their applications, measurement of social preferences using a number of simple experimental games and their policy implications.

Learning Outcomes

By the end of the module students should be able to:

  • demonstrate comprehensive knowledge and understanding of models and their application in a variety of decision making situations;
  • demonstrate a critical understanding of concepts such as equilibrium and uncertainty;
  • critically analyse current issues of decision-making and their applications.
Assessment 03611-01 : 1000 Word Essay : Coursework (50%)
03611-02 : Exam : Exam (Centrally Timetabled) - Written Unseen (50%)
Assessment Methods & Exceptions Assessment: 1,000 word individual assignment (50%) & 1 hour exam (50%) Reassessment: Students only resit the failed component
Other none
Reading List P Milgrom & J Roberts, Economics, Organisation and Management, Prentice Hall, 1992