Information, Strategy & Institutions - ECO00089M
Module summary
This module studies how information should be used, what strategies should be taken, how institutions and mechanisms can affect and shape people’s behavior and performance, and should be designed and improved, when information is private or public, resources are scarce, and concerned agents are rational but strategic.
Related modules
Advanced Microeconomics
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 1 2025-26 |
Module aims
To help students understand
1. how to think about, analyze and predict the impacts of private or public information held by agents on their rational but strategic decision making;
2. how to think about what strategy or action should be taken under the given information and institutions and how to predict the possible outcome;
3. how to analyze various real-life economic, financial, political and social institutions as examples, how to improve existing institutions and how to design new institutions for tackling various problems.
This module will enhance students’ confidence and ability to use economic theories and methodologies to deal with a variety of real life economic, financial, political and social problems, and also give them the opportunity to be familiar with one of the most active and important economic research frontiers.
Module learning outcomes
On completing the module students will be able:
(1) to solve various problems concerning information,strategy, rules, regulations, institutions and mechanisms;
(2) to appreciate the logical structure of how to develop a rigorous microeconomic argument under certain informational structures;
(3) to understand how many real life economic, financial and social institutions operate and to know how to analyze their performance;
(4) to be acquainted with fundamental principles and techniques for evaluating the outcomes of various institutions and mechanisms.
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Module feedback
Feedback will be provided in line with University policy
Indicative reading
Arrow, K., 1963, Social Choice and Individual Values.
Roth, A., and M.Sotomayor, 1990, Two-Sided Matching.
Fudenberg, D and J.Tirole, 1991, Game Theory.
Krishna, V.,2010, Auction Theory.
Osborne and Rubinstein, 1990, Bargaining and Markets.
Relevant articles will be provided during the lectures.