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Module code: ECON 5003
Module description
This module will examine Microeconomics issues, within a coherent theoretical framework. The module will present an analysis of how the Micro economic theories that will enable students to understand key decisions facing individuals, firms and organisations and the likely responses to those decisions.
Rational choice theory, will be the starting point for the module, this will then be examined in the light of recent advances in behavioural economics and the ramifications this has for agents engaged in strategic interactions.
Specifically the module will cover optimal decision making of consumer behaviour. The understanding of market structures will be developed with the recognition of market failure and imperfect information leading to an examination of imperfect markets and asymmetric information. Elements of oligopoly theory and game theory will be used to give an applied examination of the concepts.
Contact hours per student per year
- Lectures/Exercises: 36 hours
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