ECON2003 Microeconomic Theory 2
This module is intended to provide students with a firm grounding in the analytical methods of microeconomic theory and a clear understanding of the role of the price mechanism in organising economic activity.
Module Details
Title: Microeconomic Theory 2
Code: ECON2003
Year: 2
Semester: 1
CATS points: 15 ECTS points: 7.5
Level: Undergraduate
Co-ordinator(s): Dr Carmine Ornaghi, Dr Spyros Galanis
Pre-requisites and / or co-requisites
| Module | Code | Year |
|---|---|---|
| Foundations of Microeconomics | ECON1001 | 1 |
| Principles of Microeconomics | ECON1003 | 1 |
This unit is intended to provide students with a firm grounding in the analytical methods of microeconomic theory and a clear understanding of the role of the price mechanism in organising economic activity. The objective is to analyse the role of prices and the market mechanism in allocating scarce resources and to evaluate the outcome.
On successfully completing the unit, you will be able to use the tools of microeconomic theory in modeling actual economic phenomena and in evaluating the performance of various economic institutions.
The unit begins with a careful analysis of the choice behaviour of consumers and firms in the market place. These ideas are then used to analyse the formation of prices within markets. While some of the material will be familiar from the first year units, the method of analysis is more rigorous in this unit.
Study time allocation
Contact hours: 28
Private study hours: 122
Total study time:
150
hours
Teaching and learning methods
There will be two lecture periods per week, plus a series of masterclasses and surgery sessions.
Resources and reading list
Available on Blackboard
Assessment methods
10% coursework (problem sets distributed during the semester) and 90% final examination at the end of the semester, In the event of you having to resit this unit, your coursework marks will not be carried forward.