Course code: ECON2001
Course credits: 20
Taught: Semester 1
Course co-ordinator: Dr Michele Lombardi
Course lecturers: Dr Michele Lombardi, Dr Geetha Selvaretnam and Dr Alexander Kovalenkov
Entry requirements: Grade D or above in Economics 1A and B
Available to visiting students: Yes
Contact for more information: David Jones
This is an intermediate Microeconomics course whose students are largely drawn from those wishing to prepare for Honours in Economics. The course comprises intermediate Microeconomics and Introductory Mathematical Economics.
The main aims of this course are:
- to familiarise students with economic thinking and model-based approach to the analysis of the market.
- to provide a solid foundation in intermediate microeconomic analysis.
- to build a familiarity with the basic tools of consumer and producer theory, the operation of markets and optimisation in an economic context.
- to equip students with the standard economist’s kit of intuition, graphical analysis, and mathematical techniques (in particular, calculus) for microeconomics applications.
- to provide solid foundation for further, theoretical and applied, honours level Economics courses.
Intended Learning Outcomes
By the end of this course students will be able to:
- explain and use the model-based approach and associated theory in economics;
- explain and discuss the core principles of microeconomics, in the areas of consumer choice, production analysis, partial and general equilibrium, market structure, efficiency, externalities, strategic approach, and uncertainty and asymmetric information;
- apply economic concepts and abstract theorising as tools for decision making; rigorously analyse microeconomic issues, including the implications of external events and ethical social consequences of economic situations;
- 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.
Learning and teaching methods
- Lectures: Monday, Tuesday, Thursday and Friday 1300 – 1400.
- Weekly tutorials in Microeconomics;
- 6 tutorials in Mathematics for Economists.
H. Varian, Intermediate Microeconomics with calculus, 1st edition (Lectures)
T.C. Bergstrom and H. R. Varian, Workouts in Intermediate Microeconomics (Tutorials)
- A 1-hour In Course Exam (In-Course exams may be scheduled for 1730 depending on venue availability within the University) (25%);
- A 2-hour degree exam (December) (75%).