EC30220 - INTERMEDIATE MICROECONOMICS; CONSUMERS AND PRODUCERS

Module Identifier

EC30220

Module Title

INTERMEDIATE MICROECONOMICS; CONSUMERS AND PRODUCERS

Academic Year

2003/2004

Co-ordinator

Professor Peter R Midmore

Semester

Semester 2 (Taught over 2 semesters)

Pre-Requisite

EC10120 , EC10910

Mutually Exclusive

EC36420

Course delivery

Lecture

22 Hours

Seminars / Tutorials

5 Hours

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	3 Hours (sat in semester 2)	80%
Semester Assessment	2 pieces of coursework	20%
Supplementary Exam		100%

Learning outcomes

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.

Aims

The module aims to build upon foundations of elementary microeconomic theory established in modules EC10120 and EC10320 to deepen and extend knowledge of concepts and techniques of neoclassical microeconomics. His will involve application of the theory of rational choice applied to individuals and firms under conditions of certainty.

Brief description

This module teaches essential concepts in microeconomic theory, and comprises discussions of consumer behaviour, the theory of the firm, and welfare economics.

Content

o Utility maximization, consumer choice and the demand function
o The economics of information and uncertainty
o Cognitive theory and consumer behaviour
o Costs and the demand for inputs
o Profit maximization and market power
o Price discrimination
o Government and regulation

Transferable skills

o Independent work on assessed coursework requiring basic research skills;
o General economic and financi8al analysis of contemporary issues
o Use of internet resources to assess relevant pages (such as that of the Competition Commission)

Reading Lists

Books
R H Frank (2003) Microeconomics and Behavior Boston; London: McGraw-Hill Irwin
R E Kuenne (ed) (2000) Readings in applied microeconomic theory: market forces and solutions Malden, MA; Oxford: Blackwell Pub.
R A Devlin, N T Gallini and B C Eaton (2000) Problem solving in microeconomics. A study guide for Microeocnomics by Eaton, Eaton & Allen 4th edition. Ontario; London: Prentice Hall
B C Eaton, D F Eaton and D W Allen (1999) Microeconomics Ontario; London: Prentice Hall
M L Katz and H S Rosen (1998) Microeconomics Boston, MA: McGraw-Hill

Notes

This module is at CQFW Level 6