ECON1003 Principles of Microeconomics

Module Overview

This module, combined with ECON1002 - Principles of Macroeconomics – will provide an appropriate foundation for subsequent economic modules. This module is geared towards students that have an A-Level in Economics. Students cannot take ECON1003 AND ECON1001, only one of these two modules can be selected.

Aims and Objectives

Module Aims

To introduce students who have some prior knowledge of economics to the core principles and techniques of microeconomic theory.

Learning Outcomes

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

Syllabus

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

Type	Hours
Independent Study	118
Teaching	32
Total study time	150

Resources & Reading list

Microeconomics Theory and Applications with Calculus.

Microeconomics.

Intermediate Microeconomics.

Assessment

Assessment Strategy

The module assessment will be based on a 2-hour closed book final examination (80%), and coursework (20%). Coursework will consist of a series of online tests on a weekly basis. 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.

Summative

Method	Percentage contribution
Coursework	20%
Exam (2 hours)	80%

Referral

Method	Percentage contribution
Exam	100%

Repeat Information

Repeat type: Internal & External

Linked modules

One of the pre-requisites for ECON1004, ECON2001, ECON2003, ECON2005, ECON2013 and ECON3027