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 MICROECONOMICS FOR BUSINESS ECONOMICS
Code ECON227
Coordinator Dr CW Bach
Economics
C.W.Bach@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 5 FHEQ First Semester 15

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

ECON111 MATHEMATICS FOR ECONOMICS AND BUSINESS; ECON121 PRINCIPLES OF MICROECONOMICS 

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     10

    24

12

46
Timetable (if known)     60 mins X 1 totaling 10
 
    120 mins X 1 totaling 24
 
 
Private Study 106
TOTAL HOURS 152

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: open book online assessment Assessment Type: Written Exam Duration: 72 hours (Expected completion time 2-3 hours) Weighting: 50 Reassessment Opportunity: Yes Penalty for Late   72 hours (Expected c    50       
Assessment 2 : Open book online assessment Type: Written Exam Duration: 72 Hours (Expected completion time 2-3 hours) Weighting: 50% Reassessment Opportunity: Yes Penalty for Late Submi  72 Hours (Expected c    50       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             

Aims

Students should acquire the ability to reason about economic topics, and provide logical analysis of specific economic problems.
Students will acquire the ability to demonstrate economic analysis of topics which start from individual choices.
Students will acquire specific knowledge regarding economic theory which will be useful when taking further courses in economic theory.


Learning Outcomes

(LO1) Understand how to analyse individual consumption behaviour

(LO2) Understand the implications of profit maximization for firms.

(LO3) Combine the knowledge of consumption and production behaviour to provide a general equilibrium analysis of economic activities.

(S1) Problem solving skills

(S2) Communication skills


Teaching and Learning Strategies

Teaching Delivery: Mixed, hybrid delivery, with social distancing on campus.

Teaching Method: Online Asynchronous Learning Materials
Description: These will involve the lecturer guiding students through the required reading for the course and providing advice on how to approach the material during private learning sessions.
Unscheduled Directed Student Hours: 20
Attendance Recorded: No

Teaching Method: Tutorial
Description: These will involve students answering questions and contributing to debates on the subjects being discussed.
Scheduled Directed Student Hours: 10
Attendance Recorded: Yes

Teaching Method: Group Study
Scheduled Student Hours: 12
Attendance Recorded: No

Self-Directed Learning Hours: 106
Description: Self-Directed Learning will include developing academic writing skills as well as wider reading to support the module.

Weeks 1-6: Consumer Theory
Recorded lectures in weeks 1-5 Face to face tutorials in weeks 1-5, where teams of students will be guided through solutions to the tutorial questions.
Online-only students will be able to access online recordings of tutorials and virtual office hours with the lecturer.
Lecture and tutorial free revision week in week 6
There will be an online assessment in week 6 of the semester, with a minimum of 24 hours to complete.

Weeks 7-12: Production and Cost & General Equilibrium and Economics Welfare
Recorded lectures in weeks 7-11
Face to face tutorials in weeks 7-11, where teams of students will be guided through solutions to the tutorial questions. Online-only students will be able to access online recordings of tutorials and virtual office hours with the lecturer.
Lecture and tutorial free revision week in week 12
There will be an online assessment in week 12 of the semester, with a minimum of 24 hours to complete.

Costs Information:
Students may be required t o purchase the set textbook, although this will be at the discretion of the lecturer delivering the course.

There are the following non-modular requirements:
ECON111 and ECON121

This module is a pre-requisite for the following modules:
ECON222
ECON306
ECON326
ECON330
ECON333
ECON335
ECON360
ECON362

Skills/Other Attributes Mapping

Skills / attributes: Problem solving skills
How this is developed: This is developed by answering tutorial questions and contributing to debates on subjects being discussed
Mode of assessment (if applicable): Examination and Mid-term test

Skills / attributes: Communication skills
How this is developed: This is developed by answering tutorial questions and contributing to debates on subjects being discussed
Mode of assessment (if applicable): Examination and Mid-term test


Syllabus

 

Consumer Theory
Production and Costs
General Equilibrium and Economics Welfare


Recommended Texts

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