This module will cover the key concepts of microeconomics and theories related to the individual, firm and industry in the short and long run, underpinned by existing evidence on past and current economic trends in the UK, Europe and the rest of the world.
Indicative topics are:
Key microeconomic concepts such as opportunity cost and equity versus efficiency
Supply and demand; elasticity
Cost and revenues
Profit maximisation under different market structures
Input markets; labour and capital
Total contact hours: 24
Private study hours: 126
Total study hours: 150
Main assessment methods
VLE Test 1 (20%)
VLE Test 2 (20%)
Examination, 2 Hour (60%)
Reassessment methods
Reassessment Instrument: 100% examination
See the library reading list for this module (Medway)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
1. Demonstrate knowledge of the underlying concepts, competing theories and basic principles of microeconomics.
2. Understand the effect of economic forces on business decisions, behaviour and performance.
3. Present and evaluate economic data and develop well-structured lines of economic argument, offering critical comment on the arguments of others.
4. Demonstrate a knowledge of the importance of microeconomics in understanding current business issues in the UK, Europe and internationally.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
1. Retrieve information from a variety of sources.
2. Undertake independent and self-managed learning.
3. Draw on social science concepts and theories in decision-making situations.
4. Communicate effectively to a variety of audiences and/or using a variety of methods
University of Kent makes every effort to ensure that module information is accurate for the relevant academic session and to provide educational services as described. However, courses, services and other matters may be subject to change. Please read our full disclaimer.
