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ECON41840

Academic Year 2024/2025

Microeconomics (ECON41840)

Subject:
Economics
College:
Social Sciences & Law
School:
Economics
Level:
4 (Masters)
Credits:
5
Module Coordinator:
Professor David Madden
Trimester:
Autumn
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

This module is designed to provide a basic background in microeconomic theory at graduate level. It will serve as a basis for optional modules in the second trimester and also for students wishing to pursue economics at PhD level. The course will cover the following topics:
1. theory of the producer
2. theory of the consumer
3. applied examples
4. measurement of welfare change
5. choice under uncertainty

Time permitting, general equilibrium and/or market structure may also be covered


The use of duality theory will be central to the first four topics covered.

About this Module

Learning Outcomes:

Following completion of this module, students will be able to derive firm and individual demand and supply functions. Students will also be able to use these concepts to evaluate the welfare effects of various policy reforms, using concepts such as equivalent and compensating variation. Students will understand the principles lying behind choice under uncertainty. Applied examples will provide key context. Time permitting, they will also understand the relationship between the general equilibrium of an economic system and social welfare.

Student Effort Hours:
Student Effort Type Hours
Lectures

30
Tutorial

10
Autonomous Student Learning

100
Total

140

Approaches to Teaching and Learning:
Lectures will be delivered face to face. There will also be tutorials addressing the problem sets. Problem sets and exercises will be distributed prior to the tutorials and this material will then be covered in a tutorial.

Online office hours via Brightspace will be provided on request and immediately before exams

Requirements, Exclusions and Recommendations
Learning Recommendations:

It is recommended that students have completed an advanced course in undergraduate microeconomics. Ii is also recommended that students take the bootcamp course in mathematics for economists. Students coming to the course without prior training in economics should preferably have a background in a quantitative discipline such as engineering, physics or mathematics.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy  
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Exam (In-person): Final exam, closed book. End of trimester
Duration:
2 hr(s)
 Alternative linear conversion grade scale 40% No

60

 No
Exam (In-person): Mid term exam, should be around week 8 but that is subject to when other semester 1 mid terms are. Week 9 Alternative linear conversion grade scale 40% No

25

 No
Quizzes/Short Exercises: Problem sets issued during the module. They may not exactly be in the week indicated. Week 3, Week 5, Week 7, Week 11 Alternative linear conversion grade scale 40% No

15

 No

Carry forward of passed components
No
 

Resit In Terminal Exam
Spring No
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Self-assessment activities

How will my Feedback be Delivered?

Throughout the year, on request, students will get feedback on their tutorial assignments and be provided with details of corrections. For the final exam, on request, students will be given feedback on their exam performance.

Name Role
Wanying Deng Tutor
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