- Course Code:
- Unit value:
- Taught in:
- Term 1
Objectives and learning outcomes of the course
- Understand the internal structure and assumptions of the different analytical frameworks, their explanatory power and limitations;
- Summarise and present different theoretical models in a conceptually and analytically rigorous form, also with references to case studies;
- Adopt different analytical concepts and models in framing development and policy-relevant problems.
Scope and syllabus
The majority of the lectures will start by addressing specific ‘puzzles’ whose solution will require engaging with different concepts and theoretical frameworks. These puzzles will include game theory in-class simulations, historical curiosities and passages from classical economics papers. Case studies are then used from a variety of developing countries to illustrate problems and to compare the explanatory power of different concepts/frameworks. A background in economics is important, though no advanced mathematical ability is assumed. Conceptual and analytical rigour will be given priority over mathematical treatments.
Method of assessment
Assessment weighting: Exam 70% / Coursework 30% (1 essay). All coursework is resubmittable.
For a treatment of conventional microeconomics:
- Gravelle, H. and R. Rees (2004) Microeconomics, 3rd ed., Prentice Hall.
Varian, H. (1992) Microeconomic Analysis, 3rd ed., Norton.
For a treatment of alternative microeconomics frameworks:
- Bowles, S. (2004) Microeconomics. Behaviour, Institutions and Evolution, Princeton.
Elsner, W. (2012) Microeconomics of Interactive Economies. Evolutionary, Institutional and Complexity Perspectives, Edward Elgar.
Varoufakis, Y. (1998) Foundations of Economics, Routledge.
Keen, S. (2011) Debunking Economics, Zed.
Fine, B. (Forthcoming) Microeconomics Textbook (Draft available in BLE)
For a treatment of game theory:
- Dixit, A., Skeath, S. and D. Reiley (2009/15) Games of Strategy, 3rd or 4th ed., Norton.
Kreps, D. (1990) Game Theory and Economic Modelling, Oxford.