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UCL Credits: 15 | Total Learning Hours: 150 | ECTS: 7.5 |
Level: Intermediate | Term 2 |
Module Coordinator: Dr Sangaralingam Ramesh Taught By: Dr Sangaralingam Ramesh, Dr Omid Mazdak To find out more about this module, please contact the Module Coordinator. |
| Weekly Contact Hours: 3.0 (2 hour lecture and 1 hour tutorial per week) |
| Prerequisites: Introduction to Microeconomics |
| Optional Module for: Year 2/3 students |
Summative Assessment
In-class Test (20%), 2 Hour Examination (80%)
Formative Assessment
Students solve half of a past exam paper at home. They submit online only and receive individual written feedback plus a general comment sheet with solutions and most common mistakes explained.
Module Outline
Topics in Microeconomics is a course in intermediate microeconomic theory building upon the level 1 course ‘Introduction to Microeconomics’ and providing the core foundation for more advanced studies. Its objective is to further develop an integrated microeconomic approach allowing students to understand how individuals, policy makers, and firms can use microeconomic tools to analyse and resolve problems. The course equips the student with sound theoretical tools and techniques appropriate for discussing issues such as investments, contracts, the impact of taxes, regulation, strategic interactions of market agents etc.
The topics covered will include: consumer theory, general equilibrium theory and economic welfare, an introduction to game theory, auctions, interest rates, investment and capital, uncertainty and aspects of contract theory (asymmetric information & moral hazard).
Aims and objectives
- to introduce key economic concepts relevant to the understanding of individuals’ decision making (i.e. marginal returns, utility maximisation, discount rate, interest rate, etc.)
- to present microeconomic theory focusing especially on consumer theory, welfare economics and investments.
- to discuss and use mathematical tools to solve micro-economic problems
- to link economic theory and mathematical applications to real life problems and policy debate.
- to demonstrate an understanding of keyeconomic concepts and principles
- to develop analytical tools to understand and solve micro-economic problems
- to demonstrate an ability to use economic concepts to discuss real life issues
Indicative Texts
- Perloff J. M. (2012) Microeconomics. Prentice Hall. ISBN 9780131392632
- (Recap from SESS1003)
- Krugman, P., Wells, R., and Graddy, K. (2007) Economics (European Edition). Worth Publishers. ISBN 0-7167-9956-1
- Alan Griffiths and Stuart Wall, 2000, Intermediate Microeconomics. Theory and Applications, Second Edition, Harlow: Pearson. ISBN 0-582-38226-2.
AFFILIATES
This module is open to affiliate students (dependent upon personal timetable, availability and subject to meeting prerequisites)
Affiliates | Course Code | Assessment | ECTS |
| Full Year Affiliates | Register for SESS2005 | As Above | 7.5 |
| Affiliates here for Term 1 only | - | - | - |
| Affiliates here for Terms 2 and 3 only | Register for SESS2005 | As Above | 7.5 |
Please note: This outline is accurate at the time of publication. Minor amendments may be made prior to the start of the academic year.