BSc Economics

This course aims to introduce students to rigorous analysis of the workings of the factor (i.e., labour and capital) markets and how uncertainty and asymmetric information affect the decision-making process of market actors.

At the end of this course unit, it is expected that you will be able to demonstrate your understanding of: (i) labour demand and supply, (ii) intertemporal choice, (iii) capital market and real interest rate, (iv) expected utility theory, (v) risk aversion, (vi) optimal insurance, (vii) risky asset investment, and (viii) asymmetric information.

ECON20501 Micro Analysis 3

This course aims to introduce students to rigorous analysis of the workings of the factor (i.e., labour and capital) markets and how uncertainty and asymmetric information affect the decision-making process of market actors.

At the end of this course unit, it is expected that you will be able to demonstrate your understanding of:

1.     Labour demand and supply.

2.     Intertemporal choice.

3.     Capital market and real interest rate.

4.     Expected utility theory.

5.     Risk aversion.

6.     Optimal insurance purchasing.

7.     Risky asset investment.

8.     Asymmetric information.

Provisional

• Factors Markets
  Labour demand and supply;
  Intertemporal choice;
  Capital Market and real interest rate.
• Uncertainty
  Decisions under risk;
  Expected utility Theory;
  Risk aversion;
  Optimal insurance;
  Risky asset investment.
• Asymmetric Information
  Adverse selection;
  Moral hazard;
  Signalling.

Online Learning and Guided Self-Study

85% Exam

15% Mid-term test

Weekly tutorial: A problem set containing questions designed to reinforce the understanding of the material covered in the lectures is assigned to each tutorial. Students are asked to attempt the questions before attending each tutorial, and get the questions answered by the tutor during the tutorial session.

• Nicholson, Walter and Christopher Snyder, Intermediate Microeconomics and its Applications, Cenage Learning, 2015.
• Varian, Hal. R., Intermediate Microeconomics with Calculus, Norton, 2014.

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 £35,300 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).

We know that student finance can be complicated. The links below provide further information to help guide you.

Learn more about student finance options for UK students.

Learn more about fees and finance for international students.

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