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Description
Aims: To provide students with a thorough understanding of core concepts and methods of microeconomics, as a foundation for subsequent study of microeconomic topics within the degree programme, and as one of the key elements in the professional training of an economist.
Suitable for: Compulsory for 2nd year BSc Economics (L100, L101 and L102), Economics and Geography (LL17) and Philosophy and Economics (VL51) students. Also BSc Politics, Philosophy and Economics (4V86) students on the Economics and Politics concentration, and BA European Social and Political Studies (R990) students (if taking the Economics Specialisation route).
Prerequisites: ECON0002 or introductory microeconomics at an equivalent level, ECON0010 or introductory calculus at an equivalent level.
Assumed knowledge: We expect students to have some familiarity with the main concepts of microeconomic theory as follows: consumer theory, utility maximisation, demand for goods, labour supply, savings, risk; producer theory, input demands, cost, profit; supply and demand, economic equilibrium, competition, monopoly, oligopoly; welfare, Pareto efficiency, conflicts of interests, inequality; game theory.
We also expect students to be competent in calculus of one and many variables including differentiation, integration and constrained optimisation, to be comfortable with linear algebra including use of vector and matrix notation, and to have come across concepts of homogeneity and convexity.
Module deliveries for 2024/25 academic year
Last updated
This module description was last updated on 8th April 2024.
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