Module Identifier |
EC36420 |
Module Title |
CONSUMERS, FIRMS AND MARKETS |
Academic Year |
2005/2006 |
Co-ordinator |
Mr Dennis A Thomas |
Semester |
Semester 2 (Taught over 2 semesters) |
Pre-Requisite |
EC10120 and, EC10320 OR, EC10510 and, EC10610 |
Mutually Exclusive |
EC30220 |
Course delivery |
Lecture | |
|
Seminars / Tutorials | |
Assessment |
Assessment Type | Assessment Length/Details | Proportion |
Semester Exam | 2 Hours Examination is at the end of Semester 2 only | 70% |
Semester Assessment | Two class tests | 30% |
Supplementary Exam | 2 Hours | 100% |
|
Learning outcomes
on completing this module students will have gained an understanding of the following topics:
- the application of conventional indifference-curve analysis of consumer choice
- an alternative, characteristics, approach to consumer behaviour
- the nature, derivation and representation of production costs
- the basic neo-classical theory of the firm
- alternative explanations of firm motivation and behaviour
- the structural features of markets and industries
- the examination, and comparison, of production and pricing decisions in various theoretical market structures
- the employment of basic game theory to treat strategic firm behaviour
- firm pricing behaviour in practice
Aims
Building on the basic economics principles modules taught at Part One it provides a background in applied microeconomics for students studying Business Economics, Business Finance, Business and Management and various Accounting and Finance schemes. It treats the economic analysis of consumer behaviour, demand, production and cost, together with firm decision-making and behaviour within different market structure contexts.
Brief description
This second year module is taught over two semesters and is delivered by lectures and tutorial classes and assessed by class tests and formal examination. The module treats the economicanalysis of consumer behaviour, demand, production and cost, together with firm decision-making and behaviour within different market structure contexts.
Content
Section A
1. The Conventional Theory of Consumer Choice
2. Theory of Characteristics/Attribute Analysis
3. Production and Costs
4. Firm Behaviour
Section B
5. Markets and Industries
6. Theoretical Market Strcutures
7. Oligopoly and Strategic Behaviour
8. Pricing Behaviour
Transferable skills
Apart from attaining and improving subject specific skills the module enables students to develop and enhance a variety of transferable skills. Attendance at lectures requires students to listen and digest material and take structured notes. Participation in tutorials involves prior preparation together with communication and presentation during class. The study sheets assist students in organising their thoughts, reading and preparation of notes and self-test accumulated knowledge as they progress through the module. All aspects of the module necessarily involve time management skills.
The class tests provide revision targets requiring a structured and disciplined approach, and the final examination requires rigorous preparation and assimulation of material prior to structured thought and essay writing within a fixed time period.
Reading Lists
Books
D. Brewster (1997) Business Economics: Decision-Making and the Firm
The Dryden Press
Lipczynski, J, Wilson, J and Goodard, J (2005) Industrial Organization: Competition, Strategy, Policy
2nd edition. Prentic Hall
I Worthington, C Britton and A Rees (2001) Economics for Business: Blending Theory and Practice
Prentice Hall
** Recommended Text
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Worthington, Ian Economics for Business
Pitman 273632450
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Stead, Richard Industrial Economics
McGraw 77092236
** Supplementary Text
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Worthington, Ian Economics for Business
Pitman 273632450
Stead, Richard Industrial Economics
McGraw 77092236
Stead, Richard Industrial Economics
McGraw 77092236
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Worthington, Ian Economics for Business
Pitman 273632450
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Katz, Michael L. Microeconomics
edition Internat.3r.e. . McGraw 71153543
Douglas, Evan J Managerial economics
edition 4th ed . Prentice Hall
Stead, Richard Industrial Economics
McGraw 77092236
Stead, Richard Industrial Economics
McGraw 77092236
Stead, Richard Industrial Economics
McGraw 77092236
Worthington, Ian Economics for Business
Pitman 273632450
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Brewster, David Business Economics
HB Dryden,U.S. 30990173
Notes
This module is at CQFW Level 6