Course Catalogue

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This is an intermediate Microeconomics course with students largely drawn from those wishing to prepare for Honours in Economics. The course builds on the foundation of microeconomics in ECON1001 (Economics 1A) and discusses in more depth the topics of consumer behaviour, firm behaviour, game theory and decisions under uncertainty. The course includes a series of lectures and tutorials dedicated to mathematics, which builds on the introductory mathematical economics taught in ECON1002 (Economics 1B).

Lectures: Monday, Tuesday, Thursday, Friday at 13.00-14.00. These lectures will also be delivered at 12.00-13.00. In the event that attendance does not require double-teaching, the 12.00 class will be cancelled. All students, regardless of choice of lecture time, must ensure that they do not schedule other classes at 13.00.

Tutorials and seminars are held at various times and can be selected on MyCampus.

Normally a grade D or above in both ECON1001 Economics 1A and ECON1002 Economics 1B.

None.

Assessment

The main aims of this course are to:

■ familiarise students with an economic thinking and model-based approach to the analysis of the markets;

■ provide a solid foundation in intermediate microeconomic analysis;

■ build familiarity with the basic tools of consumption and production theory, the operation of markets and optimisation in an economic context;

■ equip students with the standard economist's kit of intuition, graphical analysis, and mathematical techniques (in particular, calculus) for microeconomics applications;

■ provide a solid foundation for further, theoretical and applied, honours level Economics courses.

By the end of this course students will be able to:

1. explain and use the model-based approach and argumentation in economics;

2. apply economic concepts and abstract theorising as tools for decision making; rigorously analyse microeconomic issues, including the possibility of market failures and the links between economic theory and sustainability;

3. use analytical tools of intermediate microeconomics to solve problems in the core areas above; demonstrate ideas and solve problems using appropriate graphical, algebraic, and calculus-based techniques;

4. explain and discuss the core principles of consumer choice;

5. explain and discuss the core principles of microeconomics in the areas of production analysis, market structure, game theory and uncertainty;

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.