ECON20200 Int Microeconomics (ECON&FIN)

Academic Year 2022/2023

This module is designed to help you think like an (micro)economist. It will provide you with the conceptual basis and the necessary tools to understand modern microeconomics at an intermediate level. Relative to your first-year modules in microeconomics, this module will use a more formal approach and all concepts will be discussed intuitively, graphically, and mathematically. By representing the basic ideas about markets and the demand and supply of goods in a mathematical manner, it will allow you to solve more complex problems. We will examine the derivation of individual and market demand and the derivation of firm and market supply curves. We will use a range of different materials (lectures, tutorials, videos, music, newspaper articles) based on real-world examples to explore how individuals and firms make economic decisions.

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Curricular information is subject to change

Learning Outcomes:

The aim of this module is to give you the conceptual basis and the necessary tools for understanding modern microeconomics. By the end of the module, you should have an understanding of basic microeconomic theory of consumer behaviour and the theory of the producer behaviour. You will have a clear understanding of the assumptions behind these microeconomic models and of the techniques used to analyse them. On successful completion of this module you will also have plenty of practice at problem solving through attendance at tutorials and self-directed learning.

Indicative Module Content:

The course textbook is: Jeffery Perloff, Microeconomics, 7th ed., Pearson Prentice Hall International Edition.

1. Introduction: Markets and Prices
a. Nature of markets;
b. The basics of Supply and Demand.

2. Consumer Theory
a. Budget constraints; preferences; utility; choice;
b. Utility maximization and derivation of individual demand;
c. Market demand; consumer surplus; equilibrium.

3. Theory of the Firm
a. Production; isoquant; costs;
b. Cost minimization and derivation of cost function;
c. Profit maximization and derivation of firm supply and industry supply.

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning

80
Lectures

24
Tutorial

12
Total

116
Approaches to Teaching and Learning:
Multiple teaching and learning approaches will be used in this module. In addition to standard lecture and tutorial material, you will be provided with videos, podcasts and newspaper articles to learn how microeconomics operates in the real world. You will be encouraged to reflect on this material and discuss it during tutorials and office hours, as well as in your assignments.



 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Incompatibles:
ECON20010 - Intermediate Microeconomics I


 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Written test 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

70
Multiple Choice Questionnaire: MCQ Test Week 8 n/a Alternative linear conversion grade scale 40% No

20
Assignment: Industry Analysis Assessment Week 7 n/a Alternative linear conversion grade scale 40% No

10

Carry forward of passed components
Yes
 
Remediation Type Remediation Timing
In-Module Resit Prior to relevant Programme Exam Board
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
• Online automated feedback

How will my Feedback be Delivered?

Not yet recorded.

Jeffery Perloff, Microeconomics, 7th ed., Pearson Prentice Hall International Edition.
Name Role
Professor Aisling Reynolds-Feighan Lecturer / Co-Lecturer