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Unit information: Microeconomics for Economics and Finance in 2022/23

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 for Economics and Finance
Unit code ECON20002
Credit points 20
Level of study I/5
Teaching block(s) Teaching Block 4 (weeks 1-24)
Unit director Dr. Papadopoulou
Open unit status Not open
Units you must take before you take this one (pre-requisite units)

ECON10001 Economics

Units you must take alongside this one (co-requisite units)

None

Units you may not take alongside this one

None

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

Unit Information

Why is this unit important?

A good understanding of microeconomic theory provides the tools needed to analyse economic agents within the real world. This unit builds upon the solid foundations of economic theory developed in year 1, and develops microeconomic theory at an intermediate level.

In this unit, you will gain the opportunity to develop an understanding of fundamental concepts in modern microeconomics, such as:

  • Game theory and its economic applications
  • Asymmetric information, including adverse selection and moral hazard
  • Choice under uncertainty and strategic interaction

How does this unit fit into your programme of study

This unit provides core economic theory, which you will be able to apply and build upon within final year units. The tools you develop in this unit will also be useful beyond your programme of study, and help you understand the economics of the world around you.

Your learning on this unit

At the end of this unit, students will be able to:

  1. Formalize an economic problem using the models presented and use the models to undertake analyses.
  2. Demonstrate a good understanding of a variety of static and dynamic games, and demonstrate an understanding of the importance of information and beliefs.
  3. Understand the implications of uncertainty and asymmetric information in a variety of economic settings

How you will learn

Teaching will be delivered through a combination of large and small group classes, supported by online resources

How you will be assessed

Tasks which count towards your unit mark

  • MCQ (15%) Assesses all learning outcomes.
  • Coursework portfolio. Best 6 out of 8 MCQs(15%) Assesses all learning outcomes.
  • Exam (2 hours) (70%) Assesses all learning outcomes.

When assessment does not go to plan

Reassessment will be through a single 2 hour examination.

Resources

If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECON20002).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.

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