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Unit information: Microeconomics in 2020/21

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 Dr. Julia Wirtz
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

On successful completion of the course:

  • Students will have learned the fundamental principles of economic decision making by individual agents in markets and strategic environments.
  • Students will be able to apply the mathematical techniques taught to analyse individual agents facing various economic decision making problems.
  • Students will be able to assess welfare implication of economic policies by evaluating their potential impact on individual agents’ decision making.

Teaching details

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Details

100% timed open book assessment

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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