Programme/Approved Electives for 2019/20
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; will be achieved by assessments: 1, 2analyse the role of markets and market imperfections; will be achieved by assessments: 2explain the importance and scope of governmentregulations; will be achieved by assessments: 2apply economic reasoning and analysis to a variety of real-world contexts; will be achieved by assessments: 1, 2evaluate government policy and regulation; will be achieved by assessments: 1, 2evaluate the effects of economic policy on different markets and market participants; will be achieved by assessments: 1, 2evaluate the effect of economic phenomena on market outcomes; will be achieved by assessments: 1, 2evaluate the effects of market participants' choices. will be achieved by assessments: 1, 2
Scheduled Learning and Teaching Activity Hours:2 x 12 lecture hours1 x 10 seminar/tutorial hoursGuided Independent Study Hours:2 hour exam1 hour multiple choice test (coursework)Class preparation - 20 hoursAssessment preparation - 20 hoursPrivate study - 73 hours
1: Multiple Choice Questions - Knowledge weighted 30%
Description of Module Assessment
On-line multiple choice testMultiple choice test, administered on-line through KLE, comprising of 25 questions covering material taught during weeks 1-7.
The 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. The test is available from Monday 09:00 until Friday 17:00 in week 8.2: Unseen Exam weighted 70%
Two hour unseen examinationTwo hour unseen examination. The examination covers the entire module syllabus. Approved hand calculators may be used.