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
By the end of the module the student should have developed a solid grasp of intermediate level microeconomics and be able to demonstrate knowledge of important areas of application.
• Mathematical concepts: Constrained optimisation, comparative static analysis
• The Envelope Theorem
• General equilibrium and social welfare
• Fundamental welfare theorems
• Market failure: externalities and public goods
• Choice under uncertainty
• Static games of complete information
• Dynamic games of complete information
• Static and dynamic games of Incomplete Information
- Core Module
- L100 - Year 2, L116 - Year 2, L1P5 - Year 1, L1PA - Year 1
- Pre or Co-requisites
- EC109 or EC107 with a mark of 65% plus guided reading in summer vacation
- May not be taken by EPAIS, PPE, WBS and GL11 students
- Part-year Availability for Visiting Students
- Available in the Autumn term only (1 x test – 12 CATS) and in the Spring term only (1 x test -12 CATS) and in the Autumn and Spring terms together (2 x tests - 24 CATS)
- Assessment Method
- Coursework (20%) + 3 hour exam (80%)
- Coursework Details
- Two 50 minute tests (worth 10% each)
- Exam Timing
Time Allowed: 3 hours.
Answer ALL FOUR questions in Section A (18 marks each), and ONE question from Section B (28 marks). Answer Section A questions in one booklet and Section B questions in a separate booklet.
Approved pocket calculators are allowed.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
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.