Economics of Networks and Institutions

Overview

Topics will cover the role of socio-economic institutions and networks in our contemporary global economy, explaining the financial crisis of 2008 and its consequences from a network-institutional perspective, the theory of wealth generation and allocation through a social division of labour, and the functioning of network economies with an endogenous social division of labour.

Learning Objectives

On completion of the module, students will have developed an understanding of up-to date issues in Microeconomics, and appreciate their relevance to daily life. They will develop a greater awareness of the complexities of economics and the role of institutions in resolving these. They will develop an understanding about the factors behind the current economic crisis and ways to resolve this.

Skills

Development of key analytical skills in modelling economic behaviour. Enhancement of capacity to structure an argument, to make points accurately and consistently, and to evaluate models critically both in terms of their assumptions and results. Ability to apply theoretical results to observed economic behaviour.

Assessment

Students must achieve an overall mark of 40% in the module to pass