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Unit information: Microeconomic Analysis in 2021/22

Unit name Microeconomic Analysis
Unit code EFIM20038
Credit points 20
Level of study I/5
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Professor. Simpson
Open unit status Not open

EFIM10008 Mathematical and Statistical Methods and
EFIM10026 The Economy
EFIM10010 Economic Principles and
EFIM10024 Probability, Statistics, and Econometrics



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


The unit will study the main microeconomic models which underlie modern economic thinking and which are drawn upon by macroeconomics and other fields within economics.

As such it will prepare students for final-year units and provide the foundation for students to have the economic tools to apply to concrete problems upon graduation.

The unit will cover theoretical models, practical applications of those models and empirical evidence.

Topics will include

(i) Budget constraints, preferences and utility

(ii) Choice and demand

(iii) Uncertainty

(iv) Monopoly and price discrimination

(v) Oligopoly

(vi) Externalities

(vii) Asymmetric information

Intended learning outcomes

Students will be able to:

1. Understand how theoretical microeconomic models work

2. Apply these models to practical questions and draw appropriate policy conclusions

3. Compare and contrast competing theories about how consumers and firms behave, and about how markets work (or fail)

4. Understand the conclusions of empirical papers in microeconomics to evaluate economics

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

Coursework (1,500 words) (50%). Assesses all learning outcomes.

Exam (2 hours) (50%). Assesses all learning outcomes.


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