Economic Analysis

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the key concepts and methods in microeconomics

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• apply economic methods and reasoning to address policy questions
• apply logical analysis to solve and evaluate microeconomic and game theoretic models.

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.

Teaching and learning methods

Lectures and masterclasses.

Resources & Reading list

Internet Resources

Various resources (including lecture slides, pre-recorded material, discussion board, recorded lectures for revision purposes) are made available through the Blackboard page..

Textbooks

David Besanko and Ronald Braeutigam. Microeconomics (5th Ed). John Wiley and Son.

Assessment strategy

Various pieces of formative assessment delivered online throughout the semester. Summative assessment is through problem sets (worth 10% of the final mark) and an end of module written examination (90%). This is the same for internal repeat. Assessment for referral and external repeat is through written examination only.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External