Module
Microeconomics II
Module description
The module is designed to equip you with the key microeconomic principles necessary for the analysis of a range of basic economic problems and policies. The module builds on first-year microeconomics and aims to both deepen and widen your formal knowledge of economic theory and its application. It seeks, in particular, to increase your abilities to, independently, pose and solve economic questions, especially those relating to policy issues. It emphasizes the fundamental conceptual foundations in microeconomics and provides concrete examples of their applications.
Additional Information:
Internationalisation
Microeconomics is relevant across countries as it is based on mathematical models,
Sustainability
All of the resources for this module are available on the ELE (Exeter learning Environment).
Employability
This module equips you with logical thinking, numeracy and writing skills, as well as an understanding and theoretical knowledge of economic issues. These help you think like economists, a quality highly valued by employers.
Full module specification
| Module title: | Microeconomics II |
|---|---|
| Module code: | BEE2025 |
| Module level: | 2 |
| Academic year: | 2023/4 |
| Module lecturers: |
|
| Module credit: | 30 |
| ECTS value: | 15 |
| Pre-requisites: | Passed BEE1036 and passed BEE1037 (or BEE1029 for PPE students only) |
| Co-requisites: | Non-Requisites (cannot be taken with): BEE2038, BEE2039, BEE3062 or BEE3063 |
| Duration of module: |
Duration (weeks) - term 1: 11 Duration (weeks) - term 2:11 Duration (weeks) - term 3:0 |
Module aims
The module is designed to equip students with the key microeconomic principles necessary for the analysis of a range of basic economic problems and policies. The module builds on first-year microeconomics and aims to both deepen and widen the students’ formal knowledge of economic theory and its application. It seeks, in particular, to increase the students’ abilities to, independently, pose and solve economic questions, especially those relating to policy issues. It emphasises the fundamental conceptual foundations in microeconomics and provides concrete examples of their applications.
ILO: Module-specific skills
- 1. Have a comprehensive and detailed knowledge and understanding of intermediate and advanced microeconomic theory and be able to apply economic reasoning to the analysis of economic questions and policy
ILO: Discipline-specific skills
- 2. Identify, present and explain standard theoretical economic models and apply them to analyses of economic questions and policy issues
ILO: Personal and key skills
- 3. Communicate concepts/definitions/arguments both in writing and orally
- 4. Develop the ability to prepare for and meet strict deadlines
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 54 | 246 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching activity | 40 | Lectures hours |
| Scheduled learning and teaching activity | 4 | Revision lectures |
| Scheduled learning and teaching activity | 10 | Tutorials |
| Guided independent study | 246 | Reading, preparation for classes and assessments |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| In-class Q&A | 15 minutes | 1, 2, 3, 4 | Correct answers in class |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination 1 | 25 | 2 hours | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
| Examination 2 | 40 | 2 hours | 1,2,3,4 | Written feedback (to the group) via the courses website on the examination |
| Mid-term 1 (first term) | 10 | 50 minutes | 1,2,3,4 | Written feedback (to the group) via the course's website on the examination |
| Mid-term 2 (second term) | 10 | 50 minutes | 1,2,3,4 | Written feedback (to the group) via the courses website on the examination |
| ELE Quizzes (first term) | 15 | Up to 3 hours | 1,2,3,4 | Written feedback (to the group) via the courses website on the examination |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examination 1 (25%) | Examination 1 (25%) | 1,2,3,4 | August/September reassessment period |
| Mid-term 1 (10%) | Mid-term 1 (10%) | 1,2,3,4 | August/September reassessment period |
| Examination 2 (40%) | Examination 2 (40%) | 1,2,3,4 | August/September reassessment period |
| Mid-term 2 (10%) | Mid-term 2 (10%) | 1,2,3,4 | August/September reassessment period |
| ELE Quizzes* (15%) | Up to 3 hours (15%) | 1,2,3,4 | August/September reassessment period |
Re-assessment notes
*Deferral of an individual quiz may result in an average being taken of quizzes that have been taken
Syllabus plan
• Technology and Supply
• Profit Maximization
• Market Structure and Competition
• Monopoly and Price Discrimination
• Oligopoly Theory
• Advanced Game Theory
• Principal - Agent, adverse selection, moral hazard
• Externalities and Public Goods.
• Preferences and Utility
• Demand
• Firms’ Production and Supply
• General Equilibrium Theory
• Revision
Indicative learning resources - Basic reading
The following textbook is also highly recommended:
Varian, Hal R., Intermediate microeconomics: a modern approach. New York, NY: WW Norton & Company, 2010.
Module has an active ELE page?
Yes
Origin date
25/09/2013
Last revision date
10/03/2023