EC202: Microeconomics 2

Introduction

This module builds on students’ understanding of basic principles of economics from EC109 by providing an intermediate level exposition to microeconomic principles. You will be exposed to a range of applications and theories. You will gain an understanding of how markets work in general equilibrium, choice under uncertainty as well as an introduction to strategic behaviour (game theory) for both cooperative and non-cooperative games. You will gain skills and techniques to analyse problems from a mathematical, graphical and intuitive perspective applying your knowledge to real world scenarios.”

Principal Aims

The aim of the module is to provide students with a thorough grounding in intermediate and some advanced principles of microeconomics and exposure to a range of application of the theory.

Principal Learning Outcomes

Subject Knowledge and Understanding:...demonstrate an understanding of intermediate and some advanced principles of microeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Subject Knowledge and Understanding:...demonstrate an understanding of important areas of application of theory. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Key Skills: Communicate your knowledge and understanding to others in writing. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Subject Specific and Professional Skills:...demonstrate analytical thinking, reasoning and application. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Cognitive Skills:...demonstrate a capacity for critical, analytical and strategic thinking. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Cognitive Skills:...demonstrate a capacity for abstraction and problem solving. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination.

Syllabus

Context

Core Module

L1P5 - Year 1, L1PA - Year 1, L100 - Year 2, L116 - Year 2

Pre or Co-requisites

EC109 or EC107 with a mark of 65% plus guided reading in summer vacation.

Summary:

Modules: EC109-30 or EC107-30

Assessment

Assessment Method

Coursework (20%) + Centrally-timetabled examination (On-campus) (80%)

Coursework Details

Centrally-timetabled examination (On-campus) (80%) , Test 1 (10%) , Test 2 (10%)

Exam Timing

Summer

Exam Rubric

Time Allowed: 3 Hours

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

There are TWO sections. Answer ALL FOUR questions in Section A (18 marks each), and ONE question in Section B (28 marks).

Use separate booklets as instructed below.

• Use a PINK booklet for Section A – Questions 1 and 2.

• Use a SEPARATE PINK booklet for Section A - Questions 3 and 4.

• Use a SEPARATE PINK booklet for Section B.

You must write the number(s) of the question(s) you have answered on the front cover of each booklet. Make sure the numbers are clearly visible and correspond to the questions you completed inside that booklet.

Do not submit answers to more than the required number of questions. If you do, only the first answers (in the order they appear) will be marked, up to the required number for each section.

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

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.

Reading Lists