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EC3305 Incentives, Contract and Markets

SCOTCAT credits:20
Academic year(s):2017/8
SCQF Level 9
Planned timetable:To be arranged.

This module will address economic institutions when agents interact under informational asymmetries. The main models of the theory of contracts, particularly the basic models of adverse selection, signalling, and moral hazard, as well as the theory of mechanism and market design, will be discussed with emphasis on their applications for understanding the internal organisation of firms, taxation, regulation, insurance and labour markets, education, and many other aspects of economics.

Place in programme(s) and relationship to other modules


Optional for all Economics degrees, Financial Economics, BA (Int Hons) Economics

UG Pre-requisite(s):Permission of the Economics Honours Adviser
UG Anti-requisite(s):EC3201, EC4201

Learning and teaching methods and delivery

Weekly contact:20 hours of lectures over 11 weeks, 1-hour tutorial (x 5 weeks) plus 1 office hour (x 12 weeks).
Total module hours:
  • Scheduled learning: 25
  • Guided independent study: 175

Assessment pattern

UG As defined by QAA:
  • Written examinations: 100%
  • Practical examinations: 0%
  • Coursework: 0%
UG As used by St Andrews:2-hour Written Examination = 50%, Coursework (incl. 2 x Class Tests 25%) = 50%
UG Re-assessment:2-hour Written Examination = 100%


Module coordinator:Dr G Gerasimou
Module teaching staff:Dr G Gerasimou