Microeconomics Theory and Policy Applications

Cod y Modiwl
AB23120
Teitl y Modiwl
Microeconomics Theory and Policy Applications
Blwyddyn Academaidd
2027/2028
Semester
Semester 1
Cyd-gysylltydd y Modiwl
Professor Michael Christie
Rhestr Ddarllen
Gweld ar Aspire
Rhagofynion
AB13220
Staff Eraill sy'n Cyfrannu
Professor Michael Christie
Dr Maria Plotnikova
Professor Homagni Choudhury
Dr Shafiul Azam

Dulliau Asesu

Math o Asesiad

Manylion Asesiad

Cyfran
Asesiad Semester 2 x Written Essays: (1,000 words) 30%
Arholiad Semester 3 Awr 70%
Asesiad Ailsefyll Written Essay: (2,000 words). (Students must take elements of assessment equivalent to those that led to failure of the module.) 30%
Arholiad Ailsefyll 3 Awr (Students must take elements of assessment equivalent to those that led to failure of the module.) 70%

Canlyniadau Dysgu

Wedi cwblhau'r modiwl dylai'r myfyrwyr fedru:

  1. 1. Apply the rational choice framework to the consumption decision and other decisions;
  2. 2. Apply the mainstream consumer theory and its limitations, and be able to appreciate alternative approaches and their drawbacks;
  3. 3. Explain the microeconomic foundations of production theory and cost theory;
  4. 4. Demonstrate the implications of different assumptions regarding market structure for the behaviour and performance of firms;
  5. 5. Demonstrate an understanding of the impact of uncertainty and asymmetric information on consumer choices and firm behaviour.

Disgrifiad cryno

This module teaches essential concepts in microeconomic theory, comprising examination of consumer behavior, the theory of the firm, and welfare economics. The module builds upon foundations of elementary microeconomic theory to deepen and extend knowledge of concepts and techniques of neoclassical microeconomics. This will involve application of the theory of rational choice to individuals and firms under conditions of certainty.

Cynnwys

CONSUMER DECISION MAKING
• Utility maximisation, consumer choice
• Price Changes and Consumer Welfare
• Income-leisure choice and labour supply
• Inter-temporal choice: individual saving and investment behaviour

DECISION MAKING BY FIRMS
• Cost Minimisation, the Demand for Inputs and the Cost Function
• Profit Maximisation,
• Monopoly and Price Discrimination
• Oligopoly, Cartels and Introduction to Game Theory

Sgiliau Modiwl

Math o Sgiliau

Manylion Sgiliau
Cyfathrebu Written communication developed through essay writing.
Datblygu personol a chynllunio gyrfa Development of various transferable personal and interpersonal skills, including time-management, critical thinking, writing structured arguments.
Datrys Problemau Assignments and exam will require students to solve problems relating to consumer choice and theory of the firm.
Gwella dysgu a pherfformiad ei hun Independent work on assessed coursework requiring basic research skills; Students will be required to build on their knowledge and understanding of micro-economic concepts.
Rhifedd Assignments and exams will require students to undertaken numerical analysis of micro-economics theories.
Sgiliau pwnc penodol Assignments and exams will require students to develop an understanding of micro-economic concepts relating to consumer choice and theory of the firm.
Sgiliau ymchwil Assignment and exam will require students to research the academic and policy literature.
Technoleg Gwybodaeth Use of internet resources to assess relevant pages (such as that of the Competition Commission).

Nodau

Mae'r modiwl hwn yn cydymffurfio a FfCChC Lefel 5