Introduction to Microeconomics

Module code: ECON1543

Module description

The module will look at decision making by individuals and firms. In doing so it will examine how markets work and look at the application of elasticity in the pricing decision of firms. This will be developed with the examination of taxation and welfare considerations. To add to the understanding, an examination of firm behaviour and different forms of market structures will be covered. The aim will be to fully cover imperfect competition and examine the strategic  behaviour arising from oligopoly theory. As well as covering the theory of microeconomics the module will look to apply the concepts to real world decisions both of the consumer and  the firm. This will develop the skill of “framing” that is important in allowing the decision maker to implement solutions to problems.

Contact hours per student per year

• Lectures: 44 hours
• Tutorials: 20 hours

Assessments

• Individual assignment (2000 words): 40%
• Exam: 60%

Additional costs: No extra costs other than purchase of books