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ECO-20046 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

For academic year: 2024/25 Last Updated: 26 April 2024

ECO-20046 - Intermediate Microeconomics
Coordinator: Shiva Sikdar Tel: +44 1782 7 34372
Lecture Time: See Timetable...
Level: Level 5
Credits: 15
Study Hours: 150
School Office: 01782 733094

Programme/Approved Electives for 2024/25

None

Available as a Free Standing Elective

No

Co-requisites

None

Prerequisites

ECO-10028, Introductory Microeconomics



Barred Combinations

None


Description for 2024/25

This module provides students with deeper understanding of how economists analyze decision making by consumers and businesses. The module examines how markets function under competition, general equilibrium effects of decisions and regulation of externalities.

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: 1,2
describe and evaluate how markets are presumed to function and in what way markets may be argued to be efficient: 1,2
describe the nature of externalities and evaluate their effect on economic efficiency
: 1,2
explain basic intuitive economic reasoning and apply intuitive economic arguments to the analysis of individuals¿/firms¿ behaviour: 1,2

Study hours

20 hours lectures
4 hours tutorials
20 hours preparation for tutorials
20 hours preparations for assignment
2 hours exam
84 hours self study


School Rules

None

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 questions
50-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%
Open-book assessment with a 28-hour window
Final 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.

Please note that for the 2022/23 Academic Year programmes may be adapted to operate in accordance with a flexible, digital approach. This means that there may be some changes made to how modules are delivered and assessed. The latest information will be provided to you by your School in module handbooks. We endeavour to give you as much notice as possible of any changes and details about the circumstance in which changes are made to programmes can be found in the Student Agreement, available at: https://www.keele.ac.uk/student-terms-and-conditions/

Last Updated: 26 April 2024