Module Identifier EC36420  
Academic Year 2001/2002  
Co-ordinator Professor Peter Midmore  
Semester Semester 2 (Taught over 2 semesters)  
Pre-Requisite EC10510 or EC10120  
Mutually Exclusive EC30320  
Course delivery Lecture   30 Hours  
  Seminars / Tutorials   10 Hours  
Assessment Assignment   two class tests   30%  
  Exam   2 Hours Examination is at the end of Semester 2 only   70%  

Brief description

Provides a background in intermediate, applied microeconomic theory


Consolidation of the existing co-requisite modules to better present and link/relate content, and facilitate assessment.

This second year module is taught over two semesters. Building on the basic Economic Principles module taught at Level One it provides a background in applied microeconomics for students studying Business Economics, Business Studies 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.

Learning outcomes

On completing the module students will have gained an understanding of the following topics:

- conventional indifference-curve analysis of consumer choice
- an alternative, characteristics approach to consumer behaviour
- the basic neo-classical theory of the firm
- the nature, derivation and representation of production costs
- the meaning and implications of competitive product markets
- monopoly and dominant firm behaviour and associated costs and benefits
- collusive behaviour between oligopolistic firms
- the employment of basic game theory to treat strategic firm behaviour
- product differentiation and its implications for competitive behaviour
- the basic theory of factor input markets

Reading Lists

P Ferguson, G G Ferguson and R Rothschild. Business Economics. Macmillan
M Katz and H Rosen. Microeconomics. Irwin
R Stead, P Curwen and K Lawler. Industrial Economics: Theory Applications and Policy. McGraw Hill