Applied Microeconomics
Unit Code: EFIM20002
- Level: 2
- Credit point value: 20
- Unit Director: Sarah Smith
- Lecturers: Paul Grout, Carol Propper and Sarah Smith
- Teaching blocks: 1 & 2
- Prerequisites: ECON10010 Introduction to Microeconomics, ECON11122 Quantitative Methods 1 and ECON12122 Quantitative Methods 2
- Co-requisite: ECON21133 Intermediate Microeconomics
- Number of lectures: 18
- Number of tutorials: 12
Unit Description
The main aim of the course is to show how micro-economic principles can be used to understand real-world problems. The course will cover a range of topics, for example the effects of a minimum wage, consumer price indices, congestion charging, healthcare insurance, credit rationing and monopoly firms. Each topic will relate to a specific element of micro-theory from the first and second year courses. The main focus of the course will be on how the theory can be applied in practice.
Assessment Methods
Summative Assessment
- Two-hour closed book examination in May/June
- One 1500 word essay
Formative Assessment
- Six short-answer questions
- One, one hour in-class test
- A short presentation
- One 1200 to 1500 word essay
Suggested Texts
There is no single text for the course; instead the course material will be provided in the lecturers and in supplementary papers.
Syllabus
- Minimum wages
- In-kind transfers - the food stamp programme
- Measuring the cost of living
- Poverty and inequality
- Congestion charging
- Health insurance
- Durable good monopolies
- Banking equilibrium
- Credit rationing
