Module manager: Henry Duncanson
Email: H.Duncanson@leeds.ac.uk
Taught: Semester 1 (Sep to Jan) View Timetable
Year running 2024/25
LUBS1940 Economics for Management OR LUBS1951 Economic Theory and Applications OR LUBS1952 Economic Theory and Applications for Finance
This module is not approved as a discovery module
This module is going to focus on two important decisions a firm faces. How to motivate a worker and how to price their goods. To do this we will be using what I consider the biggest advancement in economics in the last 40 years which is game theory. We will use simultaneous, sequential, repeated, and infinite choice games as such there will be a reasonably high level of technicality required for this module. Having mastered the content you will then be tasked with using the results of these models and further reading to construct arguments which are applied to general firms.
On completing this module, students will be able to demonstrate:
- A clear knowledge and understanding of basic game theory.
- An ability to apply this knowledge to unseen scenarios.
- Start to view the world or at least firms in the way an economist would. Focusing on rationality with a behavioural understanding.
On completing this module, students will be able to demonstrate:
- Demonstrate the ability to create arguments using the knowledge from the course.
- Evaluate literature in conjunction with a traditional or behavioural lens to support their arguments.
- Analyse a firm’s behavioural using game theory as a tool.
We cover:
- Some basic introductory material including risk and uncertainty, asymmetric information, and basic game theory.
- Personal Economics including incentives, the principal agent problem and hiring decisions.
- Pricing including perfect competition and monopoly pricing, oligopoly theory and collusion.
| Delivery type | Number | Length hours | Student hours |
|---|---|---|---|
| Lecture | 11 | 1 | 11 |
| Seminar | 4 | 1 | 4 |
| Private study hours | 85 | ||
| Total Contact hours | 15 | ||
| Total hours (100hr per 10 credits) | 100 | ||
NOTE: The Discussion Forum noted in the Delivery Methods table above is a Question & Answer session, and the E-Lectures are 15 minutes each duration (22 sessions = 5hr 30m).
Private study could include a variety of activities, such as reading, watching videos, listening to podcasts, collecting primary data and question practice.
There will be opportunities for formative feedback in throughout the module. The two main ones will be regular meetings for you to check your understanding and feedback on a piece of written work. There will be other opportunities for feedback in terms of discussion boards and opportunities to ask questions throughout.
| Assessment type | Notes | % of formal assessment |
|---|---|---|
| Assignment | 2,000 words | 100 |
| Total percentage (Assessment Coursework) | 100 | |
The resit for this module will be 100% by 2,000 word coursework.
The reading list is available from the Library website
Last updated: 4/29/2024
Errors, omissions, failed links etc should be notified to the Catalogue Team