ECON6006 Economic Analysis
The module will cover the fundamental tools of microeconomic analysis.
Aims and Objectives
To provide students whose primary interest is in the area of finance, with the fundamental tools of microeconomic analysis.
Having successfully completed this module you will be able to:
- An understanding of how economic theory can be used to model rational choice, market exchange and microeconomic relationships
- Use analytical skills through problem solving exercises
- Apply analytic methods to a variety of economic problems
- Demonstrate knowledge and understanding of the basic notions of game theory
The main topics to be covered are: • Perfect Markets: Rational Consumers, Profit-maximizing Firms, Perfectly Competitive Markets. • Imperfect Markets: Monopolies and Imperfect Competition, Oligopolies. General Equilibrium Model and Efficiency. • Strategic Interaction: Normal Form Games, Nash Equilibrium and Subgame Perfection
Learning and Teaching
Teaching and learning methods
This is a full course module with 40 hours of lectures and classes in semester 1. There is an emphasis on analytical methods of reasoning and thus problem-solving exercises are important learning tools. Independent work is based around quiz available on line and assigned problem sets, with solutions to selected problems discussed during classes.
|Total study time||200|
Resources & Reading list
Microeconomics: An Integrated Approach.
Microeconomics and Behaviour.
A one and a half hour written examination mid-term (15%) A three hour written examination at the end of semester 1 (85%) Resit Assessment – three-hour written examination in the supplementary period (100%) Your understanding of the role of economic theory and your ability to apply analytic methods are assessed through the written examination.
|Exam (3 hours)||85%|
|Mid-term test (1.5 hours)||15%|
|Exam (3 hours)||100%|
Repeat type: Internal & External
Costs associated with this module
Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.
In addition to this, students registered for this module typically also have to pay for:
Books and Stationery equipment
Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.