|| EC36420 |
|| CONSUMERS, FIRMS AND MARKETS |
|| 2003/2004 |
|| Mr Dennis A Thomas |
|| Semester 2 (Taught over 2 semesters) |
|| EC10510 or, EC10120 |
|| EC30230 |
| Course delivery
|| Lecture || 30 Hours |
|| Seminars / Tutorials || 10 Hours |
|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|| ||100%|
On completing the 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 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.
This second year module is taught over two semesters. Building on the basic economics principles modules taught at Level One it provides a background in applied microeconomics for students studying Business Economics, Business Finance, 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.
D. Brewster (1997) Business Economics: Decision-Making and the Firm
The Dryden Press
P Ferguson, G G Ferguson and R Rothschild Business Economics
T C G Fisher and R G Waschick (2002) Managerial Economics: A Game Theoretic Approach
M Katz and H Rosen Microeconomics
R Stead, P Curwen and K Lawler Industrial Economics: Theory Applications and Policy
This module is at CQFW Level 6