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Microeconomic principles and policy

M457

This module looks at the principles economists use to model the behaviour of individual agents (firms, consumers, and policy authorities) and the ways in which they interact in a market economy.

Topics covered

  • Unit 1: Introduction to Microeconomics
  • Unit 2: Theories of Consumer Behaviour
  • Unit 3: Theory of Production and Costs
  • Unit 4: Markets and Competition
  • Unit 5: Oligopoly and Other Noncompetitive Markets
  • Unit 6: Markets for Resources – Labour, Capital and Other Inputs
  • Unit 7: Industry Structures, Pricing Behaviour and Globalisation
  • Unit 8: Externalities, Public Goods and Environmental Economics

Assessment

  • one three-hour unseen written examination (70%)
  • two tutor marked assignments (30%)

Essential reading

  • Pindyck, R & D Rubinfeld (2015) Microeconomics, 8th Edition, Pearson.
  • Goodwin N, J Harris, JA Nelson, B Roach & M Torras (2014) Microeconomics in Context, 3rd Edition, Routledge.