TEST-Advanced Economics

MODULE DESCRIPTION 

The first part of this course deals with advanced microeconomics where it deals with individual decision making. We first consider the decision maker in an abstract setting before moving to a market environment. Here we derive the consumer’s demand function and its properties. We also study fundamental topics such as utility maximization, expenditure minimization, and duality and welfare changes. We conclude this part of the course introducing risk and uncertainty into the theory of individual decision making. The second part of the course deals with advanced macroeconomics where it builds on the first by exploring economic environment with asymmetric information (asymmetric information, signaling and screening), as well as other topics in contract theory such as principal-agent problems and incomplete contracts.

Course objectives

The main objective of Advanced Economics is to provide core analytical skills in advanced microeconomics and macroeconomics. This course describes the foundations of modern microeconomics and macroeconomics as well as other topics that have been the subject of economic.

Learning Outcomes

By the end of this course, the students should have the understanding on the following:

        i.            Types of markets structures

      ii.            Demand curves and supply curves in imperfect competitions

    iii.            Optimization process in several market structures

    iv.            Balance of payments,

      v.            Economic growth and development models

Cognitive/Intellectual skills/Application of Knowledge

Having successfully completed the module, students should be able to:

    vi.            Explain best strategy for a business in a competitive world and elaborate a relative model

  vii.            Make Choices best economic policy suitable to a given economic situation

viii.            Analyse a market structure presented in class case studies

    ix.            Analyse a balance of payment given

      x.            Analyse economic development process