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ES52070: Microeconomics

[Page last updated: 14 August 2024]

Academic Year: 2024/25
Owning Department/School: Department of Economics
Credits: 10 [equivalent to 20 CATS credits]
Notional Study Hours: 200
Level: Masters UG & PG (FHEQ level 7)
Period:
Semester 1
Assessment Summary: CWES 30%, EXCB 70%
Assessment Detail:
  • Take-home coursework (CWES 30%)
  • Unseen examination (EXCB 70%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Learning Outcomes: Apply mathematical modelling to decision problems Analyse strategic interactions using game theory Assess the role of competition, asymmetric information, conflicting interests for market or agency outcomes Appreciate assumptions of economic models when applied to practical problems


Synopsis: Develop advanced knowledge of the theory and techniques of microeconomic analysis, and prepare for specialised study of economics. You'll learn how to present decision-making situations and strategic interactions as mathematical problems, and how to subsequently solve those problems. You'll also develop your understanding of theoretical benchmarks for comparative analysis and practical comparisons.

Content: Individual Decision-Making: Preference and Choice, Choice under Uncertainty Game Theory: Non-Cooperative Games, Dynamic Games, Bayesian Games Industrial Organization: Competitive and Monopolistic Markets, Oligopoly Information Economics: Adverse Selection, Market Failure, Signalling, Screening, Agency Theory Public and Welfare Economics: Public Goods, Externalities

Course availability:

ES52070 is Compulsory on the following courses:

Department of Economics

Notes:

  • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
  • Courses and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.