- UCAS course code
- LV25
- UCAS institution code
- M20
Bachelor of Arts (BA)
BA Politics, Philosophy and Economics
Duration: 3 or 4 years
Year of entry: 2025
UCAS course code: LV25 / Institution code: M20
- Key features:
Study abroad
Industrial experience
Scholarships available
- Typical A-level offer: AAA
- Typical contextual A-level offer: ABB
- Refugee/care-experienced offer: BBB
- Typical International Baccalaureate offer: 36 points overall with 6,6,6 at HL
Course unit details:
Principles of Microeconomic Theory 2: Markets, Prices and Strategy
| Unit code | ECON20172 |
|---|---|
| Credit rating | 10 |
| Unit level | Level 2 |
| Teaching period(s) | Semester 2 |
| Available as a free choice unit? | No |
Overview
The aims of this course are: to provide a further introduction to the fundamental concepts and techniques of microeconomic analysis and expose students to a range of applications.
The objectives of this course are that students will be able to:
1. have developed a solid grasp of microeconomic theory and quantitative methods;
2. demonstrate knowledge of important areas of application.
3. analyse and use analytical models for applications;
4. evaluate and critically analyse microeconomic arguments, theories and policies.
Pre/co-requisites
| Unit title | Unit code | Requirement type | Description |
|---|---|---|---|
| Advanced Mathematics | ECON10071A | Pre-Requisite | Compulsory |
| Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs | ECON10171 | Pre-Requisite | Compulsory |
| Advanced Mathematics | ECON10071B | Pre-Requisite | Compulsory |
ECON10171 Micro Analysis 1 and ECON10071 Adv Maths
Aims
The aims of this course are: to provide a further introduction to the fundamental concepts and techniques of microeconomic analysis and expose students to a range of applications.
Learning outcomes
The objectives of this course are that students will be able to:
- Have developed a solid grasp of microeconomic theory and quantitative methods.
- Demonstrate knowledge of important areas of application.
- Analyse and use analytical models for applications.
- Evaluate and critically analyse microeconomic arguments, theories and policies.
Syllabus
Provisional
A brief overview of the syllabus/topics:
• Competitive firms and markets (perfect competition, profit maximization, short and long run competition).
• Monopoly (profit maximization, market power and welfare, regulation).
• Pricing (price discrimination, bundling, advertising).
• Game theory (static games, dynamic games, examples and applications).
• Oligopoly models (Cournot models, Bertrand models, monopolistic competition).
• OPTIONAL: General equilibrium and economic welfare (trade only, production and trade economies, efficiency and equity).
Teaching and learning methods
Online Learning and Guided Self-Study
Employability skills
- Analytical skills
- Synthesis and evaluation of data.
- Problem solving
- Research
- Ability to independently locate and assess relevant literature, and to draw on these in developing understanding and constructing arguments.
- Other
- Time management and working to deadlines.
Assessment methods
80% Exam
20% Online Test (2 x 10%)
Feedback methods
- Feedback in tutorials/classes.
- Office hours.
- Informal talk with the lecturer and tutor.
- Discussion board.
Recommended reading
Jeffrey Perloff (2014) “Microeconomics with Calculus, Global Edition” (ISBN-10: 0273789988; ISBN-13: 9780273789987). Chapters 8-14.
Teaching staff
| Staff member | Role |
|---|---|
| Sofia Izquierdo Sanchez | 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.