|Delivery length / details
|22 x 1 Hour Lectures
|4 x 1 Hour Tutorials
|Assessment length / details
|2 pieces of coursework First essay, second essay and assessed exercise
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.
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. This will involve application of the theory of rational choice applied to individuals and firms under conditions of certainty.
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)
This module is at CQFW Level 6