Module overview
This module will familiarise students with the main concepts, methods and insights of microeconomic analysis, with a special focus on their possible applications and policy implications.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- apply logical analysis to solve and evaluate microeconomic and game theoretic models.
- apply economic methods and reasoning to address policy questions
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- the key concepts and methods in microeconomics
Syllabus
The main topics to be covered are:
- Perfect Markets: Rational Consumers, Profit-maximizing Firms, Perfectly Competitive Markets.
- Imperfect Markets: Monopolies and Imperfect Competition, Oligopolies.
- General Equilibrium Model and Efficiency.
- Strategic Interaction: Normal Form Games, Nash Equilibrium and Subgame Perfection.
Learning and Teaching
Teaching and learning methods
Lectures and masterclasses.
| Type | Hours |
|---|---|
| Independent Study | 120 |
| Teaching | 30 |
| Total study time | 150 |
Resources & Reading list
Internet Resources
Textbooks
David Besanko and Ronald Braeutigam. Microeconomics (5th Ed). John Wiley and Son.
Assessment
Assessment strategy
Various pieces of formative assessment delivered online throughout the semester. Summative assessment is through problem sets (worth 10% of the final mark) and an end of module written examination (90%). This is the same for internal repeat. Assessment for referral and external repeat is through written examination only.
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Problem sets | 20% |
| Final Exam | 80% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
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.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Repeat Information
Repeat type: Internal & External