Programme/Approved Electives for 2022/23
Available as a Free Standing Elective
This module introduces students to the main principles of Microeconomics. More specifically, its purpose is to introduce students to the economic analysis of decision-making of both households and firms and of how markets work. Furthermore, the module analyses and evaluates the rationales for government intervention in markets. By introducing students to the method, content and scope of microeconomic analysis, the module outlines basic concepts necessary for further study in all areas of Economics and is useful in all related disciplines including Business Studies, Management and Marketing. The module assumes no previous knowledge of economics.
The purpose of this module is to introduce students to the economic analysis of decision-making, how markets work, and how consumers and firms make their decisions, as well as to understand economic issues relating to the price mechanism. The module introduces students to the basic microeconomic tools and theoretical frameworks so as to progress to the study of intermediate level microeconomics.
Intended Learning Outcomes
recognise and explain the theoretical basis of economic decision making: 1,2explain the importance and scope of government regulations: 1,2apply economic reasoning and analysis to a variety of real-world contexts: 1,2evaluate government policy and regulation: 1,2evaluate the effects of economic policy on different markets and market participants: 1,2evaluate the effect of economic phenomena on market outcomes: 1,2evaluate the effects of market participants' choices: 1,2analyse the role of markets and market imperfections: 1,2
Scheduled Learning and Teaching Activity Hours:18 lecture hours6 seminar/tutorial hours12 hours discussion seminarsGuided Independent Study Hours:1 hour multiple choice test 2 hour examClass preparation - 20 hoursAssessment preparation - 20 hoursPrivate study - 71 hours
1: Multiple Choice Questions - Knowledge weighted 30%
Description of Module Assessment
One Online Midterm Test with Multiple Choice QuestionsThe test's duration is 60 minutes. It needs to be completed in one attempt (part of the test cannot be saved and returned to at a later time/date) within the allowed time (1 hour). One attempt is allowed only.2: Open Book Examination weighted 70%
Two Hour Unseen Online ExaminationTwo hour online unseen examination. The examination covers the entire module syllabus. Approved hand calculators may be used.