University of Kent

Description

This core module builds on material covered in Stage 1 Economics, but deals with it at greater depth and with more emphasis on theoretical rigour. It emphasises the fundamental theoretical foundations of microeconomics, and provides concrete examples of their application. The topics considered are: consumer theory; intertemporal choice; uncertainty; measurement of welfare changes; technology and production; theories of the firm under competition; monopoly and oligopoly; game theory; general equilibrium analysis and welfare; the analysis of inequality; public goods and externalities.

Learning outcomes

The module builds upon the first year economics modules and by the end you will

• understand the fundamental theoretical foundations of microeconomics and examples of their application
• be able to apply the tools and methods of microeconomics on your own
• understand the relevance of microeconomics to the real world
• be able to analyse and evaluate contemporary market systems
• understand the microeconomic foundations for the other Economics modules taken on Economics degree programmes
• have learnt and developed a variety of different skills, such as essay writing, communication and analytical skills, and acquired problem-solving experience

Reading list

Preliminary Reading:

H. Varian, Intermediate Microeconomics, A Modern Approach (6th ed.), Norton, 2002.
M. Katz & H. Rosen, Microeconomics (3rd ed.), Irwin, 1998.
S. Mathis & J. Koscianski, Microeconomics theory: An Integrated Approach, Prentice-Hall, 2003
H. Gravelle & R. Rees, Microeconomics (2nd ed.), Longman, 1992.

Factsheet

Credits	30 [15 ECTS]
Level	Intermediate
Term	(Stage 2) Autumn and Spring
Availability
Exclusion
Pre-requisites	Stage 1 Economics, and Mathematics and Statistics for Economics and Business (or equivalent).
Assessment	20% coursework consisting of four class tests 80% written examination of 3 hours duration
Contact hours	40 lectures and 20 seminars