ECON1003 Principles of Microeconomics
This module, combined with ECON1002 - Principles of Macroeconomics – will provide an appropriate foundation for subsequent economic modules.
Aims and Objectives
To introduce students who have some prior knowledge of economics to the core principles and techniques of microeconomic theory.
Having successfully completed this module you will be able to:
- Understand the technical language of economics
- Apply the basic concepts of microeconomic analysis and use appropriate tools in solving economic problems
- Recognise the consequences of government intervention to the functioning of markets
This module introduces basic microeconomic principles. It will cover: - Consumer 's theory - Competitive firm - Game Theory - Competitive equilibrium - First welfare theorem - Monopoly - Externalities and public goods.
Learning and Teaching
|Total study time||150|
Resources & Reading list
Microeconomics Theory and Applications with Calculus.
The module assessment will be based on a 2-hour closed book final examination (80%), and two assessed courseworks (10% each). The courseworks and the final examination test the ability of students to use the theoretical concepts and tools learnt during the course in solving and analysing economic problems.
|Exam (2 hours)||80%|