BASS Social Anthropology and Philosophy

The aims of this course are to:

• provide a self-contained introduction to microeconomics;
• introduce a range of microeconomic concepts and analytical tools

Intended Learning Outcomes

• ability to understand and make appropriate use of core microeconomic concepts such as revenue and cost, opportunity cost, elasticities, marginal and average values
• understanding of the role and limits of markets
• understanding of the relationship between modern “neoclassical” economics and “classical” schools of economic thought
• ability to analyse the behaviour of firms

None, this unit assumes no Economics training. 

Cannot be taken with ECON10171.

 The aims of this course are to:

• provide a self-contained introduction to microeconomics;
• introduce a range of microeconomic concepts and analytical tools

Intended Learning Outcomes

• ability to understand and make appropriate use of core microeconomic concepts such as revenue and cost, opportunity cost, elasticities, marginal and average values
• understanding of the role and limits of markets
• understanding of the relationship between modern “neoclassical” economics and “classical” schools of economic thought
• ability to analyse the behaviour of firms

1. The Capitalist Revolution

Capitalism, Growth, Demographic Transition

Core Reading: ‘The Economy’ Chapter 1      

2. Economic Models: Technological Change, Population & Growth

Malthus, the Industrial Revolution, Introduction to Economic Models, the Nature of Economics

Core Reading: ‘The Economy’ Chapter 2      

3. Classical Economic Thought

Smith, Ricardo, Marx

Core Reading: Notes provided by the lecturer.

4. The Marginal Revolution: Scarcity, Work And Choice

Preferences, Opportunity Costs, Decision-making and scarcity

Core Reading: ‘The Economy’ Chapter 3      

5. Social and Strategic Interactions

Conflict, Co-operation, Institutions, Norms and Behaviour

Core Reading: ‘The Economy’ Chapter 4      

6. The Price-Making Firm

Production, Costs, Revenue, Demand and its Elasticity, Competition & Market Power

Core Reading: 'The Economy' Chapter 7      

7. The PriceTaking Firm

Perfect Competition, Competitive Equilibrium Taxes.

Core Reading: 'The Economy' Chapter 8 & Chapter 11 [section 11.1 - 11.3]

8. Markets, Efficiency & Market failure

Market Failure. Pollution.

Core Reading: ‘The Economy’ Chapter 12

Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study

Online Test  1, 22.5%

Online Test 2,  22.5%

Essay 55% - 1,200 words

Individual and group work in the tutorials, and feedback thereon.

Online practice tests on Blackboard

Online discussion and feedback (from peers and staff) 

The primary textbook for this course will be:

The CORE project (2017) The Economy. Economics for a Changing World. Oxford University Press.

See the e-book, and additional resources, at:  www.core-econ.org

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.