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1. COURSE OBJECTIVES
This course aims to equip students with basic to advanced knowledge on issues related to the effects of information on the whole economy as well as on each economic sector. Economics of Asymmetric Information studies the forms of economic agreements and contracts, in which one party captures more information than the other party or the participants have opposing goals, and the degree of influence of these to the benefits and profits of the parties involved. In the most general research context of asymmetric information, theoretical models are studied to provide the most optimal choices for businesses and individuals when making economic decisions. The issue of moral hazard and reverse screening related to economic contracts are also the main contents of the module. Economics of Asymmetric Information also studies the importance and implications of asymmetric information in areas such as development economics and insurance.
Upon completion, students are able to:
- Mastering the principles of making optimal decisions in the context of asymmetric information,
- Master the application of Economics of Asymmetric Information in two typical fields: development economics and insurance.
- Applying knowledge of Economics of Asymmetric Information to real life for education market, insurance market.....
2. COURSE CONTENTS
No.
Contents
Time Allocation
Contribution to CLO
Hour(s) on the class
Essays, exercise,
Assignments...
(3)
Self-study with teacher’s tutorials
(4)
Lecture
(1)
Practice, Seminar…
(2)
1
Chapter 1: General Introduction
3
0
1
5.5
8,102
Chapter 1: General Introduction
Chapter 2: Principle – Agent model
3
0
2
5.5
1,2,5,6,7,8
3
Chapter 2: Principle – Agent model Chapter 3: Moral hazard
3
0
2
5.5
1,2,3,5,6,7,8
4
Chapter 3: Moral hazard
3
0
2
5.5
1,3,5,6,7,8
5
Chapter 3: Moral hazard
3
0
1
5.5
1,3,5,6,7,8
6
Chapter 3: Moral hazard
3
0
2
5.5
1,3,5,6,7,8
7
Chapter 4: Adverse selection
3
0
1
5.5
1,3,5,6,7,8
8
Chapter 4: Adverse selection
3
0
2
5.5
1,3,5,6,7,8
9
Midterm test
Chapter 5: Signalling
3
0
0
5.51,2,3,4,5,6,9,10
10
Chapter 5: Signalling
3
0
2
5.5
1,3,5,6,7,8
11
Chapter 5: Signalling
3
0
0
5.5
1,3,5,6,7,8
12
Chapter 5: Signalling
3
0
2.5
5.5
1,3,5,6,7,8
13
Chapter 6: Asymmetric information in the real situations
3
0
2
5.5
1,4,5,6,7,8
14
Chapter 6: Asymmetric information in the real situations
3
0
1
5.5
1,4,5,6,7,8
15
Revision and discussion
3
0
2
5.5
1,2,3,4,5,6,7,8
Total (hour)
45
0
22.5
82.5
3. COURSE ASSESSMENT
- Score ladder: 10
- Type of assessment
Form
Content
Criteria
CLO
Proportion
Formative
Attendance
Attendance, answering questions given during lecture hours
The number of attendances and participation in lesson
9,10
10%
Midterm test
Mid-term test: from Chapter 1 to Chapter 4
Writing test
(30-45 minutes)
1,2,3,4, 9, 10
30%
Summative
Final test
All chapters mentioned in the course
MCQ + Writing Test (60-90 minutes)
1,2, 3, 4,5,6,
9,10
60%
Total:
100%