ECON41840 Microeconomics

Academic Year 2023/2024

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. measurement of welfare change
4. choice under uncertainty
5. partial and general equilibrium
6. time permitting, some issues in market structure and game theory.

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

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Curricular information is subject to change

Learning Outcomes:

Following completion of this module, students will be able to derive firm and individual demand and supply functions under perfect competition. Students will also be able to use these concepts to evaluate the welfare effects of various policy reforms. Students will understand the principles lying behind choice under uncertainty They will also understand the relationship between the general equilibrium of an economic system and social welfare. If time permits, they will also understand how game theory can help explain strategic interaction between firms.

Student Effort Hours: 
Student Effort Type Hours
Lectures

30
Tutorial

10
Autonomous Student Learning

100
Total

140
Approaches to Teaching and Learning:
Lectures and tutorials. The current intention is that, subject to public health advice, 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. Again, the intention is to have the tutorial face to face subject to public health advice.

In the event that face to face teaching is not possible, lectures and tutorials will be delivered online via Brightspace.

In either case, online office hours via Brightspace will be provided. 
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 Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Midterm examination Varies over the Trimester No Graded No

25
Examination: Final examination 2 hour End of Trimester Exam No Graded No

60
Assignment: Tutorials exercises based upon material covered Throughout the Trimester n/a Graded No

15

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
Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Autumn
      
Lecture Offering 1 Week(s) - 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 Thurs 13:00 - 13:50
Lecture Offering 1 Week(s) - 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 Wed 10:00 - 12:50
Autumn