Programme And Module Handbook
 
Course Details in 2019/20 Session


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Module Title LH Economics of Uncertainty and Information
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 08 08375
Module Lead Amalia Di Girolamo
Level Honours Level
Credits 10
Semester Semester 2
Pre-requisites
Co-requisites
Restrictions Available to all students who have been allowed onto the final year of a degree programme for which it is a compulsory module or who have passed Microeconomics (08 28536)
Contact Hours Guided independent study-75 hours
Seminar-5 hours
Lecture-20 hours
Total: 100 hours
Exclusions
Description

This is a strongly theoretical and mathematical economics module.  The focus of attention is on how individuals make choices under uncertainty and asymmetric information. The first part of the module focuses mainly on two models: Expected Utility Theory and Prospect Theory. These are followed by discussions on major concepts and models of the Theory of Choice under Uncertainty and the Economics of Information with detailed micro-level analysis. Relevant applications are also discussed, such as individual Portfolio Theory and the Principal-Agent problem.

Learning Outcomes

On completion of this module students should be able to:

  • demonstrate systematic knowledge and understanding of and be able to formally define main theories and models of individual decision-making and the role of individual risk attitude in them;
  • apply these theories and models to specified individual decision-making problems;
  • critically appraise and compare these models by describing their main assumptions and limitations.
Assessment 08375-01 : Essay : Coursework (100%)
Assessment Methods & Exceptions Assessments: 2500 words essay/individual project (100%)
Reassessment: N/A
Other none
Reading List