Module Identifier EC36420  
Academic Year 2004/2005  
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   32 Hours  
  Seminars / Tutorials   8 Hours  
Assessment TypeAssessment Length/DetailsProportion
Semester Exam2 Hours Examination is at the end of Semester 2 only  70%
Semester Assessment Two class tests  30%
Supplementary Exam2 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 form, implications and limitations of the structure-conduct-performance approach
- the employment of basic game theory to treat strategic firm behaviour
- firm pricing behaviour in practice


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.


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

** Recommended Text
I Worthington, C Britton and A Rees (2001) Economics for Business: Blending Theory and Practice Prentice Hall
** Supplementary Text
R Stead, P Curwen and K Lawler Industrial Economics: Theory Applications and Policy McGraw Hill
D. Brewster (1997) Business Economics: Decision-Making and the Firm The Dryden Press
P Ferguson, G G Ferguson and R Rothschild Business Economics Macmillan
M Katz and H Rosen Microeconomics Irwin


This module is at CQFW Level 6