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# BA Modern Language and Business & Management (Chinese)

Year of entry: 2021

## Course unit details:Microeconomics IIB

Unit code ECON20352 10 Level 2 Semester 2 Economics Yes

### Overview

See course Blackboard pages.

### Pre/co-requisites

Unit title Unit code Requirement type Description
ECON20351 Pre-Requisite Compulsory
Co-requisite: ECON20351

### Aims

The aim of this course is to introduce students to the fundamental concepts and techniques of intermediate microeconomics, with special attention to market failures.

### Learning outcomes

On successful completion, students should be able to:

1. Solve simple individual choice problems under uncertainty.
2. Compute Nash equilibria and sub-game perfect Nash equilibria in static and sequential games, respectively.
3. Determine the monopoly equilibrium and compare it with perfect competition.
4. Understand the canonical cases of price discrimination.
5. Distinguish the main differences between price and quantity competition.
6. Find out non-cooperative solutions and policy remedies in simple economic models with externalities.

### Syllabus

1. Uncertainty.
2. Monopoly.
3. Game theory and its applications to oligopoly.
4. Externalities.

### Teaching and learning methods

Lectures and tutorial classes.

### Employability skills

Analytical skills
Research
Planning independent research and study using library, electronic and online resources.
Other
Information retrieval. Numeracy. Literacy. Computer literacy. Time-management, Applying subject knowledge. Improving own learning.

### Assessment methods

Method Weight
Other 20%
Written exam 80%

Mid-Term Test:

• Weighting: 20% of the final mark.
• Date: 16 April.
• Length: 45 minutes.
• Structure: In-class test.
• Students need to answer 1 out of two questions where they require to solve mathematical questions and explain intuitively and graphically (where possible).
• Topics: Uncertainty, Monopoly, and Game theory and its application to oligopoly

Final Exam:

• Weighting: 80% of the final mark.
• Date: May/June Exam Period.
• Length: 1 hour.
• Structure: Multiple choice questions. There will be 14 questions and students are required to answer all.
• Topics: entire syllabus.

### Feedback methods

• Tutors will hold one Feedback Class at the end of the term (Tutorial 4), where students will have the possibility to obtain feedback on any other exercise covered in the Tutorials.
• Office hours.
• Discussion boards.

Lecture slides together with the course outline and problem sets will be available online. Any standard text book in microeconomics will be helpful, but students might find the following textbook particularly useful:

• Varian, H. (2002) Intermediate Microeconomics, Norton, 6th edition (or, the latest edition).

In addition, they can also use:

• Gravelle, H., and R. Rees (2004) Microeconomics, Pearson Education, 3rd edition.

Students must review basic mathematical concepts before the semester starts. They could read, for example, the mathematical appendix of Gravelle and Rees (2004).

### Study hours

Scheduled activity hours
Assessment written exam 1.5
Lectures 16
Tutorials 4
Independent study hours
Independent study 78.5

### Teaching staff

Staff member Role
Raj Banerjee Unit coordinator