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. One of the pre-requisites for ECON1004, ECON2001, ECON2003, ECON2005, ECON2013 and ECON3027
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
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
Teaching and learning methods
.
| Type | Hours |
|---|---|
| Teaching | 32 |
| Independent Study | 118 |
| Total study time | 150 |
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