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Unit information: Microeconomics in 2019/20

Please note: Due to alternative arrangements for teaching and assessment in place from 18 March 2020 to mitigate against the restrictions in place due to COVID-19, information shown for 2019/20 may not always be accurate.

Please note: you are viewing unit and programme information for a past academic year. Please see the current academic year for up to date information.

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

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

Lectures, exercise lectures and tutorial classes.

Assessment Details

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

Summative assessment: 100% by 2½-hour closed book written exam. This examination contains questions which assess all of the ILOs.

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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