ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title MICROECONOMIC THEORY
Code ECON915
Coordinator Dr CW Bach
Economics
C.W.Bach@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

 6

         30
Timetable (if known)              
Private Study 120
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When): 1  2 hours    80       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Mid-term test There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When): 1  1 hour    20       

Aims

This module aims to provide an opportunity to understand and appreciate the fundamental aspects of decision making in an uncertain environment, allowing for the possible synchronic or diachronic incidence of risk. Individual risk linked behaviour will be linked to symmetric and asymmetric imperfect information scenarios. In this context individual or circumscribed group behaviour may be related to an aggregate and institutional context.

Learning Outcomes

(LO1) An appreciation of the basic aspects of consumer and producer decision making both under certainty and uncertainty;

(LO2) An understanding of the underlying assumptions needed to justify the existence of a general competitive equilibrium;

(LO3) An understanding of the relationship between a general equilibrium and welfare considerations.

(S1) Problem solving skills

(S2) Numeracy

(S3) Organisational skills

(S4) Communication skills

(S5) Lifelong learning skills

Teaching and Learning Strategies

Lectures x 24 hours

Seminars x 6 hours

Self-directed learning x 120 hours

Syllabus
 

Topic 1: Consumer theory;

Topic 2: Topics in consumer theory;

Topic 3: Theory of the firm;

Topic 4: Partial equilibrium;

Topic 5: General equilibrium;

Topic 6: Social choice and welfare.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.