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 Analysis
Code ECON915
Coordinator Dr CW Bach
Economics
C.W.Bach@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 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 20

5

        25
Timetable (if known)              
Private Study 125
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    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  24    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

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning


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.