EC137: Economics 1: Micro

Alexander Karalis Isaac
Module Leader
Amira Elasra
Module Lecturer

15 CATS - Department of Economics

Summer Module

Spring Module

Autumn Module

Principal Aims

This module allows students to develop an understanding of fundamental and intermediate concepts in microeconomic analysis by equipping them with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods. This allows students to develop the capacity to apply analytical techniques to real world problems.

Principal Learning Outcomes

Subject Knowledge and Understanding:...demonstrate knowledge of economic behaviours, outcomes, trends, developments, phenomena, institutions and policies.

Subject Knowledge and Understanding:...demonstrate an understanding of key concepts, principles, theories and models in Economics

Subject Specific/Professional Skills:...demonstrate the capacity for abstract reasoning and to simplify economic problems through the application of theoretical models.

Subject Specific/Professional Skills:...demonstrate the capacity to interpret economic data and to use data to inform the selection and application of appropriate economic tools of analysis.

Syllabus

Typically, topics covered will include those such as: Micro (term 1)

• The Capitalist Revolution

• Technology, Population and Growth

• Scarcity, Work and Choice

• Social Interactions

• Property and Power

• The Firm: Owners, managers and employees

• The Firm and its Customers

• Supply and Demand

• Markets, Efficiency and Public Policy

Context

Optional Module: Y602 - Year 1, G300 - Year 1
Pre or Co-requisites: This module is available to all students outside the Department of Economics (and other than students in WBS) conditional on having achieved a Grade B or better in Mathematics at A-level, or the equivalent. Students wishing to take EC136 in the same year as EC137 should instead take EC107.

Assessment

Assessment Method: Coursework (20%) + In-person Examination (80%)
Coursework Details: In-person Examination (80%) , Test (20%)
Exam Timing: Summer

Exam Rubric

Time allowed: 1 hour 30 minutes

Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.

There are TWO sections in this paper. Answer ALL questions in Section A (40 marks in total) and TWO questions in Section B (60 marks in total).

Answer each whole question in a separate booklet.

Approved scientific (non-graphical) pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.