|Delivery Type||Delivery length / details|
|Seminars / Tutorials||5 Hours.|
|Assessment Type||Assessment length / details||Proportion|
|Semester Assessment||2 pieces of coursework First essay second essay and assessed exercise||20%|
|Semester Exam||2 Hours||80%|
|Supplementary Exam||2 Hours Repeat Failed Elements or equivalent||100%|
On successful completion of this module students should be able to:
- Be able to apply the rational choice framework to consumption and other decisions;
* Be familiar with the limitations of mainstream consumer theory and able to appreciate alternative approaches and their drawbacks;
* Have an appreciation of the structure-conduct-performance paradigm and the extent to which it may be used to regulate markets.
This module builds on the foundation provided in the introductory microeconomics module EC10120, extending and deepening your knowledge of the concepts and techniques of neoclassical microeconomics. Our particular concern will be the analysis of rational choices by households and firms under conditions of certainty and independence of action. Having gained an extended understanding of the rational choice model under these basic conditions, you will then be in a position to proceed, in your third year, to the study of choice under uncertainty and strategic choice under conditions of interdependence (in EC31020 Advanced Topics in Microeconomics).
This module teaches essential concepts in microeconomic theory, and comprises discussions of consumer behaviour, the theory of the firm, and welfare economics.
- Utility maximization, consumer choice and the demand function
- The economics of information and uncertainty
- Cognitive theory and consumer behaviour
- Costs and the demand for inputs
- Profit maximization and market power
- Price discrimination
- Government and regulation
General economic and financial analysis of contemporary issues
Use of internet resources to assess relevant pages (such as that of the Competition Commission)
Reading ListRecommended Text
Frank, R Microeconomics and Behaviour 6th edition McGraw-Hill International Primo search
This module is at CQFW Level 6