Intermediate Microeconomics

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• abstract essential features of economic systems to provide models for assessing policy and other exogenous events.
• derive optimal and predict actual behavioural in economic environments
• recognise what should be taken as given for addressing microeconomic questions and the role of resource and informational constraints for policy implementation.
• apply logical analysis to assumption-based models and make use of inductive reasoning through solving microeconomic models.

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the central theoretical and practical concepts of microeconomics.
• core analytical methods in microeconomics and fundamental concepts in game theory.
• applying central microeconomic concepts to specific topics and questions.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• collaborate with others and recognise problems and possible solutions associated with team work

This module starts with explaining individual behaviour of consumers and firms in the market place to derive supply and demand and the equilibrium formation of prices within markets. It then considers strategic behaviour and how to model it to derive predictions and policy implications.

This module builds on the material covered in first year modules, and therefore some concepts and ideas will be familiar, but the method of analysis is more rigorous in this module.

Course Outline:

• Consumer Theory
• Theory of the Firm
• Competitive Equilibrium
• Choice under uncertainty
• Strategic Behaviour

Lectures, tutorials, classroom experiments.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.