Year of entry: 2023
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Course unit details:
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 1|
|Available as a free choice unit?||Yes|
To provide students with a solid grounding, at an intermediate level, in the fundamental concepts and techniques of microeconomic analysis used in business application.
Registered on the MA Economics programme.
To provide students with a solid grounding, at an intermediate level, in the fundamental concepts and techniques of microeconomic analysis used in business applications.
At the end of this course students should be able to demonstrate:
(i) an understanding of relevant microeconomic concepts;
(ii) a capacity to explain and evaluate critically theoretical arguments;
(iii) knowledge of the assumptions and propositions of standard consumer theory and alternative measures of the welfare effects of price changes on individuals;
(iv) their understanding of the concepts used, and the issues addressed, by general equilibrium theorists in analysing a pure exchange economy;
(v) their understanding of the concepts and techniques that game theorists apply to economic problems;
(vi) theoretical challenges presented by real business problems.
The topics covered during the semester are: Choice & Consumer Theory (6 hours of lectures), Pareto Efficiency & Competitive Equilibrium (6 hours of lectures), Game Theory (8 hours of lectures).
Teaching and learning methods
Lectures and tutorials
Final exam in January weighted at 70% and mid term exam weighted at 30%
Hugh Gravelle and Ray Rees (2004) Microeconomics.
Robert Gibbons (1992) A Primer in Game Theory.
Geoffrey A. Jehle and Philp J. Reny. Advanced Microeconomic Theory. (Several editions as well as paperback are available. The latest, 3rd edition is published by Financial Times/ Prentice Hall.)
Hal Varian. Intermediate Microeconomics: A Modern Approach.
|Scheduled activity hours|
|Independent study hours|
|Klaus Schenk-Hoppe||Unit coordinator|
Registered on MA Economics