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Module Title LM Risk, Uncertainty and Information (SIM)
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 08 28063
Module Lead Dr Michalis Drouvelis
Level Masters Level
Credits 10
Semester Semester 2
Restrictions None
Description 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 Methods & Exceptions Assessments: 2 hour written examination (100%)
Reassessment: 2 hour examination (100%)
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