| 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 | Dr. McCauley |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
EFIM10008 Mathematical and Statistical Methods and EFIM10026 The Economy OR EFIM10010 Economic Principles (minimum mark of 60%) and EFIM10024 Probability, Statistics, and Econometrics OR EFIM10010 Economic Principles (minimum mark of 60%) and ECON10003 Probability, Statistics, and Econometrics |
| 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 |
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.
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
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 economic models and policy questions
Teaching will be delivered through a combination of large and small group classes, supported by online resources
Tasks which help you learn and prepare you for summative tasks (formative):
Students submit answers to practice exam questions for marking and feedback. These practice exam questions will prepare students for the summative exam.
A second set of practice exam questions will also be released, but these will be self-marked by the students with full solutions provided.
Tasks which count towards your unit mark (summative):
Exam (2.5 hours) (100%). Assesses all learning outcomes.
When assessment does not go to plan
Reassessment will be through a single 2.5 hour examination.
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. EFIM20038).
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 University 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. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
