Programme/Approved Electives for 2022/23
None
Available as a Free Standing Elective
Yes
ECO-10028, Introductory Microeconomics
The module provides students with a deeper understanding of how economists analyse decision making by consumers and businesses. The study of markets identifies causes of their functioning under the perfect competition paradigm.
Aims
This module provides students with knowledge of several main topics in microeconomics. By the end of the semester, students should have a firm analytical framework, enabling them to analyse many economic environments, and have the skills to progress to a more advanced study of microeconomics at level 6. Moreover, students should be able to apply many of the theoretical tools they have learned to situations in everyday life.
Intended Learning Outcomes
apply basic ideas of choice, optimisation and equilibrium to the analysis of consumer theory and the theory of the firm: 1,2describe and evaluate how markets are presumed to function and in what way markets may be argued to be efficient: 1,2describe the nature of externalities and evaluate their effect on economic efficiency: 1,2explain basic intuitive economic reasoning and apply intuitive economic arguments to the analysis of individuals¿/firms¿ behaviour: 1,2
20 hours lectures4 hours tutorials20 hours preparation for tutorials20 hours preparations for assignment2 hours exam84 hours self study
Description of Module Assessment
1: Class Test weighted 30%Computer-based test consisting of multiple choice, true/false and fill in the blank type of questions50-minutes computer-based test which will have to be be taken at specified time. Answers should be as accurate and concise as possible.
Online test contains numerical exercises and tests conceptual understanding using multiple choice, true/false and fill in the blank type of questions.
2: Open Book Examination weighted 70%Final Exam - open book examFinal exam to test the understanding and knowledge of concepts developed during the semester. The time available to complete this assessment is 28 hours but you would normally not be expected to invest more than 2 hours of active-working time on this assessment.