| Unit name | Microeconomics |
|---|---|
| Unit code | ECON20011 |
| Credit points | 20 |
| Level of study | I/5 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Dr. Tsur |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
ECON10012 Essentials of Economics 1 |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Economics |
| Faculty | Faculty of Arts, Law and Social Sciences |
Why is this unit important
Economic theory provides various ideas, tools, and mathematical models to understand real-world settings. A deep understanding of economic theory will help you isolate and assess the key forces underlying a wide range of market and non-market interactions. While it is a valuable subject to know on its own, economic theory also provides important tools to guide and enhance empirical analysis, e.g., which variables to look at in a big data set, how to interpret empirical results, and how to make more general (counterfactual) predictions and policy recommendations.
This unit will introduce you to key concepts in microeconomic theory: how to build and understand foundational economic models; develop formal mathematical tools to analyse these models, and understand their applications to real-world problems.
How does this unit fit into your programme of study
This unit builds upon the foundations you have developed in year 1 and will teach you microeconomic theory at an intermediate level.
The unit focuses on the core concepts in economic theory, which you will apply and build upon in your second and final year units. The tools you develop in this unit will also be useful beyond your program of study, and help you understand the economics of the world around you.
Overview of content
In this unit, you will develop an understanding of fundamental concepts in microeconomic theory, such as:
How will students, personally, be different as a result of the unit?
Through this unit, you will develop an understanding of core principles of microeconomics, which are applied in more advanced units. This toolkit that you will develop will allow you to use and develop models that explain agents' behaviour, whether at individual, firm, or even government level.
Learning Outcomes
By the end of this unit, you will be able to:
Teaching will be delivered through a combination of large and small group classes, supported by online resources. There will be formative assignments and problem sets.
The learning methods will combine theoretical concepts and examples learned in class with formative assignments (problem sets and other examples) that students will complete on their own and in tutorials. Getting hands-on experience with theoretical concepts, and how to apply them, is an important step to achieve a deep understanding of the topics.
Tasks which help you learn and prepare your for summative (formative):
Tasks which count towards your unit mark (summative):
When assessment does not go to plan:
If students fail the unit such that credit points cannot be awarded at the first attempt, they will normally be provided reassessment in the failed element(s).
The reassessment tasks will be:
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECON20011).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
