This module is not currently running in 2024 to 2025.
The aim of this module is to introduce students to the basic tools used by economists to study resource allocation, price formation and decision making. The module focuses on classical theories of consumer and producer behaviour and on the theory of competitive equilibrium.
The module starts with an analysis of the optimisation problems of price-taking consumers and firms. We then analyse market interaction and the formation of prices in the framework of perfect competition. We will introduce decision making under uncertainty and apply it to problems in finance. We will conclude with a brief introduction to game theory.
Total contact hours: 42
Private study hours: 108
Total study hours: 150
80% examination and 20% coursework.
Hal R. Varian, Intermediate Microeconomics with Calculus, WW Norton & Co., 2014.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
1 demonstrate knowledge of the underlying concepts and principles associated with microeconomic theory;
2 adapt mathematical expressions that describe specific microeconomic models;
3 apply the underlying concepts and principles associated with microeconomic theory to an understanding of financial economics.
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