Module Catalogues

Asymmetric Information and Mechanism Design

Module Title Asymmetric Information and Mechanism Design
Module Level Level 4
Module Credits 5.00
Academic Year 2017/18
Semester SEM2

Aims and Fit of Module

This module provides students with cutting-edge, hand-on knowledge of how to design mechanisms, especially when information is distributed asymmetrically between economic agents.

Learning outcomes

A Critically evaluate static and dynamic models of adverse selection and moral hazard.
B Understand the mechanics behind different types of auctions.
C Apply the knowledge to other relevant economic situations.
D Understand the mechanics behind internal organization of firms.
E Analyse the problem of surplus division and assess alternative methods proposed to solve it.
F Demonstrate an in-depth critical understanding of incomplete contracts and their economic significance.

Method of teaching and learning

Method of teaching and learning will be by lecture and weekly tutorials.