Last modified: 07 Nov 2025 16:47
This course develops mathematical methods for analyzing economic decisions and equilibrium behaviour at an advanced undergraduate level. One of the goals is to help prepare students for postgraduate work in economics. A good understanding of the methods studied in EC2003 and EC3023 is essential, since the course builds on and extends the mathematical and analytical skills developed in these courses to examine in a more rigorous way several key areas in microeconomics such as individual consumer and firm choices, decision-making under uncertainty, and applications of game theory.
| Study Type | Undergraduate | Level | 4 |
|---|---|---|---|
| Term | First Term | Credit Points | 30 credits (15 ECTS credits) |
| Campus | Aberdeen | Sustained Study | No |
| Co-ordinators |
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This course examines a number of important topics in microeconomics in greater depth than the microeconomics course at level two. In the first part of the course both the consumer's and producer's problem are examined using a number of analytical tools developed in EC 3023. The second part of the course considers market structure and general equilibrium theory in more detail. The third section focuses on the economics of uncertainty and game theory.
Information on contact teaching time is available from the course guide.
| Assessment Type | Summative | Weighting | 70 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
3-hour Exam worth 70% of the overall grade. |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | A relatively deep understanding of key concepts, such as equilibrium, optimisation, and incentives, and the use of deductive reasoning in economics. |
| Procedural | Apply | An ability to interpret, understand, and apply simple economic models to economic issues, including an understanding of how the model solution may depend on given parameters and assumptions. |
| Assessment Type | Summative | Weighting | 30 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback |
2 x In-Class Quizzes worth 30% (15% each) of the overall grade. 30 minutes each. |
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | A relatively deep understanding of key concepts, such as equilibrium, optimisation, and incentives, and the use of deductive reasoning in economics. |
| Procedural | Apply | An ability to interpret, understand, and apply simple economic models to economic issues, including an understanding of how the model solution may depend on given parameters and assumptions. |
There are no assessments for this course.
| Assessment Type | Summative | Weighting | 100 | |
|---|---|---|---|---|
| Assessment Weeks | Feedback Weeks | |||
| Feedback | ||||
| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
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| Knowledge Level | Thinking Skill | Outcome |
|---|---|---|
| Conceptual | Understand | A relatively deep understanding of key concepts, such as equilibrium, optimisation, and incentives, and the use of deductive reasoning in economics. |
| Procedural | Apply | An ability to interpret, understand, and apply simple economic models to economic issues, including an understanding of how the model solution may depend on given parameters and assumptions. |
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