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Year of entry: 2022
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Course unit details:
Microeconomics 2
| Unit code | ECON10232 |
|---|---|
| Credit rating | 10 |
| Unit level | Level 1 |
| Teaching period(s) | Semester 2 |
| Offered by | School of Social Sciences |
| Available as a free choice unit? | Yes |
Overview
This module will introduce students to the basics of industrial organization, individual decision making, the role of markets and how they fail as well as issues around the measurement and study of inequality.
Students will develop a build on the Microeconomics learned in Term 1 to more fully be able to study and discuss some of the main ideas and issues in micro.
Pre/co-requisites
| Unit title | Unit code | Requirement type | Description |
|---|---|---|---|
| Introductory Mathematics | ECON10061 | Pre-Requisite | Compulsory |
| Advanced Mathematics | ECON10071 | Pre-Requisite | Compulsory |
| Microeconomics 1 | ECON10221 | Pre-Requisite | Compulsory |
| Microeconomics 1 | ECON10331 | Pre-Requisite | Compulsory |
(ECON10221 OR ECON10331) AND (ECON10061 OR ECON10071)
Aims
This module will both broaden and deepen students’ understanding of microeconomics. We will re-visit, formalize and extend some important concepts covered in Micro 1 such as rational choice theory. We will look at more sophisticated theories of market structures and will pay special attention to how these ideas help us understand labour markets. We will also consider the role of ethics in economics, inequality, and power.
Learning outcomes
Students will develop a build on the Microeconomics learned in Term 1 to more fully be able to study and discuss some of the main ideas and issues in microeconomics.
Syllabus
- Ethics and Economics
- Rational Choice theory and extensions
- Models of common market structures
- Power
- Labour Markets I and II
- Inequality
Teaching and learning methods
Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study
Employability skills
- Analytical skills
- Oral communication
- Problem solving
- Written communication
Assessment methods
If in-person teaching is allowed:
60% Policy Brief
20% Online Quizes (x5)
20% Group Presentation
If there is no in-person teaching:
75% Essay
25% Quizzes
Recommended reading
The main text for this module is CORE Economics. Students should register (it is free) at www.core-econ.org/.
Teaching staff
| Staff member | Role |
|---|---|
| Peter Backus | Unit coordinator |
Additional notes
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary