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Economic Design (ECON40006)

HonoursPoints: 12.5Not available in 2025

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Overview

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This subject is an introduction to economic design, 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 student should be able to:



  • Formulate economic problems as they relate to economic design.
  • Identify relevant economic theory tools to address the problems.
  • Critically evaluate policy prescriptions.
  • Suggest alternative economic designs.

Generic skills

  • High level of development: problem solving; statistical reasoning; application of theory to practice; interpretation and analysis; critical thinking.

  • Moderate level of development: accessing data and other information from a range of sources.

  • Some level of development: oral communication; written communication; collaborative learning; team work; synthesis of data and other information; evaluation of data and other information.

Last updated: 8 November 2024