ADMCPM: "Consumers, Producers, Markets and Trade"

Module code: ADMCPM

Module provider: School of Agriculture, Policy and Development

Credits: 20

Level: 7

When you’ll be taught: Semester 1

Module convenor: Dr Garth Holloway , email: garth.holloway@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2025/6

Available to visiting students: Yes

Talis reading list: No

Last updated: 3 April 2025

Overview

Module aims and purpose

Engage with the rigorous application of microeconomic reasoning underpinning the theory and practice of consumer, producer, market, and trade behaviour analysis. Examine the theories of these interlinked concepts and focus on the application of microeconomic tools to understand empirically observable consumer, producer, markets and trade phenomena. Work with case studies and research topics within which the module providers are internationally recognised. Explore key concepts of behavioural economics; reflect on the questions of risk, uncertainty, and choice; and discuss theoretical and practical issues surrounding international trade.Ìý

Module learning outcomes

By the end of the module, it is expected that students will be able to:Ìý

1. Enact formal microeconomic reasoning at levels enabling them to digest representative scientific literatureÌý
2. Conduct theoretical evaluations of some commonly-encountered mathematical-economic structuresÌý
3. Undertake empirical researchÌý
4. Have an appreciation of the ways in which formal, microeconomic analyses uncover hitherto unidentified solutions to many real-world problems encountered in a broad collection of scientific disciplines.Ìý

Module content

• Introduction to mathematical economicsÌý
• The nature of mathematical economicsÌý
• Economic modelsÌý
• The real number systemÌý
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• Equilibrium analysis in economicsÌý
• Linear models and matrix algebraÌý
• Preferences, utility, choice, demandÌý
• Introduction to the Lagrangean methodÌý
• Test One (WeekÌýSix)Ìý
• Introduction to Behavioural EconomicsÌý
• Rational ChoiceÌý
• Introduction to Game TheoryÌý
• Basic Game Theory ConceptsÌý
• Nash EquilibriumÌý
• Subgame Perfect EquilibriumÌý
• Some Basic Games, Puzzles and EvidenceÌý
• ÌýIntroduction to Public GoodsÌý
• The Fundamental Theory of Public GoodsÌý
• Evidence For Public GoodsÌý
• AuctionsÌý
• The Winner’s CurseÌý
• Experimental EconomicsÌý
• Test Two (WeekÌýTwelve)Ìý

Structure

Teaching and learning methods

• Face to face lecturesÌý
• Online video demonstrationsÌý
• One-to-one consultation meetings during office hoursÌýÌý

Study hours

At least 20 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.