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Unit information: Microeconomics in 2016/17

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Unit name Microeconomics
Unit code ECONM1010
Credit points 15
Level of study M/7
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Professor. Park
Open unit status Not open
Pre-requisites

None

Co-requisites

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description

This unit aims to provide a thorough understanding of the basic concepts in microeconomics with more emphasis on the technical aspects relative to microeconomics taught at the undergraduate level. The course begins with an analysis of consumer theory, moving on to choice in uncertain and strategic situations. The course addresses individual and market responses to asymmetric information and institutions which arise as a result.

The Unit aims are: to introduce the central ideas, concepts and tools of microeconomics; to develop analytical rigour; and to prepare students for independent economic thinking about policy issues.

Intended learning outcomes

Students should be familiar with the basic principles of each topic in the syllabus and should be able to apply mathematical techniques (where relevant) to solve economic problems. Equally important, however, is that students understand the economic problem at hand and interpret their answers intuitively.

Teaching details

Lectures, exercise lectures and tutorial classes.

Assessment Details

Formative assessment: One set of exercises and one essay assignment.

Summative assessment: 3 hour closed book examination. (One third of the exam tests the student’s proficiency in basic mathematical techniques and two thirds test his/her understanding of the topics covered in the course and ability to analyse closely related problems and interpret the obtained results.

Reading and References

  • A.Mas-Colell, M. Whinston and J. Green, (1995), “Microeconomic Theory”, Oxford University Press.
  • Gibbons, R. (1992), A Primer in Game Theory, Prentice Hall.

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