Programme/Approved Electives for 2019/20
Available as a Free Standing Elective
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.
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; will be achieved by assessments: 1 ,2explain basic intuitive economic reasoning and apply intuitive economic arguments to the analysis of individuals┐/firms┐ behaviour; will be achieved by assessments: 1,2describe and evaluate how markets are presumed to function and in what way markets may be argued to be efficient; will be achieved by assessments: 1,2describe the nature of externalities and evaluate their effect on economic efficiency. will be achieved by assessments: 1,2
24 hours lectures5 hours tutorials20 hours preparation for tutorials20 hours preparations for assignment2 hours exam79 hours self study
1: Class Test weighted 30%
Description of Module Assessment
Online test consisting of multiple choice, true/false and fill in the blank type of questionsOnline test contains numerical exercises and tests conceptual understanding using multiple choice, true/false and fill in the blank type of questions. Duration of 50 minutes.2: Unseen Exam weighted 70%
2 hour unseen examination2 hour examination covering the whole course.