Handbook home
Economic Design (ECON90028)
Graduate courseworkPoints: 12.5Not available in 2022
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
Overview
Fees | Look up fees |
---|
This subject is an introduction to Economic Design and the interaction of modern economic theory, economic policy and experimental economics. The subject will cover mechanism design, auction theory, contract theory, and the fundamental results on the limits to efficiency in asymmetric information environments. The theory will be illustrated with case studies of recent policy applications of economic design techniques.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Set up and solve contact design problems in asymmetric information environments;
- Analyse bidder behaviour in standard auction forms;
- Set up and solve auction design problems in common and independent private value environments;
- Explain and apply the Envelope Theorem, the Revelation Principle and the Revenue Equivalence Theorem, and their implications for auction theory and contract theory; and
- Explain the fundamental results of mechanism design and implementation theory on the limits to efficiency in asymmetric information environments.
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- Written communication
- Collaborative learning
- Problem solving
- Team work
- Mathematical reasoning
- Application of theory to practice
- Interpretation and analysis
- Critical thinking
Last updated: 30 January 2024
Eligibility and requirements
Prerequisites
One of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON40001 | Advanced Microeconomics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
ECON90002 | Microeconomics | Semester 1 (Dual-Delivery - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Code | Name | Teaching period | Credit Points |
---|---|---|---|
ECON40006 | Economic Design | Not available in 2024 |
12.5 |
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 30 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Homework assignment
| Week 3 | 4% |
Homework assignment
| Week 5 | 4% |
Homework assignment
| Week 7 | 4% |
Homework assignment
| Week 9 | 4% |
Homework assignment
| Week 12 | 4% |
Mid-semester examination
| Mid semester | 10% |
End-of-semester examination
| During the examination period | 70% |
Additional details
Examinations totalling 80% and split between the midterm and the final as the maximum of 10% for the midterm plus 70% for the final and 30% for the midterm plus 50% for the final - 80% (10%+70% or 30%+50%, whichever is greater)
Last updated: 30 January 2024
Dates & times
Not available in 2022
Time commitment details
Estimated total time commitment of 170 hours per semester
Last updated: 30 January 2024
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Subject notes
Students may not receive credit for both ECON90028 Economic Design and ECON40006 Economic Design.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Economics - Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 30 January 2024