The aim of the module is to provide students with a thorough grounding in intermediate and some advanced principles of microeconomics and exposure to a range of application of the theory.
Principal Learning Outcomes
By the end of the module the student should have developed a solid grasp of intermediate level microeconomics and be able to demonstrate knowledge of important areas of application.
The module will typically cover the following topics:
• Constrained optimization and comparative static analysis
• Duality and the Envelope Theorem
• Consumer behaviour and demand
• Producer behaviour and supply
• General equilibrium
• Fundamental welfare theorems
• Market failure and social welfare
• Choice under uncertainty
• Models of monopoly
• Models of oligopoly
• Complements and network externalities
• Two-sided Markets
• Intermediate level game theory with applications
• Mechanism design and the Revelation Principle
- Pre or Co-requisites
- EC109 or EC107 with a mark of 65% plus guided reading in summer vacation
- May not be combined with EC204 or EC229.
- Part-year Availability for Visiting Students
- Available in the Autumn term only (1 x test – 12 CATS) and in the Spring term only (1 x test -12 CATS) and in the Autumn and Spring terms together (2 x tests - 24 CATS)
- Assessment Method
- Coursework (20%) + 3 hour exam (80%)
- Coursework Details
- Two 45 minute tests (worth 10% each)
- Exam Timing
Time Allowed: 3 hours.
Answer ALL FOUR questions in Section A (18 marks each), and ONE question from Section B (28 marks). Answer Section A questions in one booklet and Section B questions in a separate booklet.
Approved pocket calculators are allowed.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.