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| Module Availability |
| Autumn |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
70
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| Coursework 1 |
10
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| Coursework 2 |
20
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
| Microeconomic theory is essential to the economist's toolkit. As a result, studying and understanding it is one of the key elements in the professional training of an economist. The module also serves as a foundation for subsequent study of microeconomic topics within the relevant degree programmes. The module uses some mathematical techniques (at the level of the Level 1 Mathematics for Economists and Level 2 Formal Methods modules) and graphical analysis |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
| This module aims to provide a firm understanding of some of the core principles of microeconomics |
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| Learning Outcomes |
By the end of the module students will:-
- be able to understand the fundamental ideas and techniques of microeconomics at an intermediate level
- understand microeconomic models and problems expressed in standard mathematical terms, and be able to solve and interpret problems based on such models
- be able to use microeconomic concepts and methods to analyse and interpret real-world microeconomic phenomena and to assess issues of microeconomic policy
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| Module Content |
The following is an indication of the likely topics to be covered:-
- budget constraint, preferences and utility
- consumer choice, demand and the Slutsky equation
- consumer's surplus& market demand
- technology and production functions, profit maximisation and cost minimisation
- competition, monopoly and oligopoly
- general equilibrium and welfare
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| Methods of Teaching/Learning |
| Lectures (11) and Workshops (5) |
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| Selected Texts/Journals |
The main text for the lectures will be:-
Hal R. Varian Intermediate Microeconomics: A Modern Approach (2009), 8th edition, W.W.Norton & Company. Altenatively, the students could choose the text by Wyn Morgan, Michael l. Katz and Harvey S. Rosen: Microeconomics (2nd European edition), McGraw-Hill, 2009
At a less advanced level than the main texts any of the following would be useful:
Jeffrey Perloff, Microeconomics, Addison Wesley; and Robet S. Pindyck and Daniel L. Rubinfeld, Microeconomics, Prentice hall. At a more advanced level, on the other hand, would be any of the following:
Hugh Gravelle and Ray Rees, Microeconomics, Longman; Walter Nicholson, Microeconomic Theory: Basic Principles and Extensions, Dryden Press; Frank Cowell, Microeconomics, Principles and Analysis, Oxford University Press |
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| Last Updated |
10 March 2011 |
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