BAEcon Accounting and Finance

The unit aims to provide students with a rigorous treatment of fundamental microeconomic concepts exposing the class to key economic ideas and theories motivated and explained with the regular use of real world examples.

Students will acquire a deeper and more rigorous understanding of the concepts encountered in Microeconomics 1 and Microeconomics 2. Specifically, students will be taught: (i) consumer theory; (ii) production theory and costs; (iii) perfect competition and monopoly; (iv) strategic interdependence in oligopolistic markets.

ECON10232 Microeconomics 2

The unit aims to provide students with a rigorous treatment of fundamental microeconomic concepts exposing the class to key economic ideas and theories motivated and explained with the regular use of real world examples.

Students will acquire a deeper and more rigorous understanding of the concepts encountered in Microeconomics 1 and Microeconomics 2.

Specifically, students will be able to demonstrate a firm understanding of intermediate microeconomic principles and models related to: (i) consumer theory; (ii) production theory and costs; (iii) perfect competition and monopoly; (iv) strategic interdependence in oligopolistic markets.

They will also develop the ability to analyse real life scenarios and identify policy implications referring to microeconomic theories.

Provisional

Brief overview of the syllabus/topics.

1. Consumer Theory

1.1 perfect substitutes/complements, quadratic and CES utility functions, and constrained maximisation;

1.2 duality: Hicksian and Marshallian demands

2. Production Theory

2.1 production functions; short run - long run production decisions;

2.2 cost functions; supply functions

3. Perfect Competition and Monopoly

3.1 short run - long run under perfect competition;

3.2 monopoly equilibrium; natural monopoly; welfare analysis and government intervention

4. Oligopoly

4.1 elements of game theory

4.2 Bertrand, Cournot, Stackelberg oligopoly models and applications (e.g. managerial firms, socially concerned firms, public Vs private competition).

Synchronous activities (such as Lectures, Feedback and Q&A sessions, and tutorials), and asynchronous resources (e.g. pre-recorded videos, weekly quizzes and interaction via discussion board) for guided self-study.

Students will develop a firm understanding of microeconomic theory. They will learn how to analyse and summarise different theories and they will be able to illustrate how they apply to real world problems.

Students will develop problem solving skills and learn how to analyse economic problems making use of theoretical models. They will also develop the ability to critically identify the models that best fit different real word scenarios. Through their engagement with asynchronous resources and formative assessment, they will also improve their skills for independent study.

Students will learn how to apply mathematical skills to problem solving and the basic use of mathematical software, while reporting on technical economic concepts and using word processing software.

Students will develop presentation and interpersonal skills through participation in small group activities, live lectures and discussion board engagement.

30% Coursework (MCQs and open question)

70% Online Open Book Exam

Feedback to summative assessment (e.g. coursework and homework) will be provided via Canvas/Turnitin.

Online quizzes released on Canvas will provide opportunities for formative assessment and feedback.

Opportunities for receiving feedback will also be provided during small group activities, on the Discussion Board (Piazza) and during office hours.

• Hal R. Varian, Intermediate Microeconomics with Calculus: A Modern Approach, W.W.Norton.

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.

Tuition fees for home students commencing their studies in September 2027 will be £10,050 per annum. Tuition fees for international students will be £34,800 per annum.

For general information please see the undergraduate finance pages.

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

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As an international student you may be eligible for our Global Futures Scholarships. This is open to students starting their studies in September 2026.