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:2016/7
Module lecturers:
  • Professor Ramon Cobo Reyes - Lecturer
  • Dr Simone Meraglia - Lecturer
Module credit:30
ECTS value:

15

Pre-requisites:

BEE1030 (or BEE1029 for PPE students only)

Co-requisites:

Cannot be taken with BEE2024

Duration of module: Duration (weeks) - term 1:

11

Duration (weeks) - term 2:

11

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. develop the ability to 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. develop the ability to communicate concepts/definitions/arguments both in writing and orally
  • 4. develop the ability to prepare and meet strict deadlines

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
542460

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Contact Hours40Lectures hours
Contact Hours4Revision lectures
Contact Hours10Tutorials

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
In-class Q&A15 minutes1, 2, 3, 4Correct answers in class

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
01000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Examination 1452 hours1,2,3,4Written feedback to the group on the course’s website on the examination
Examination 2452 hours1,2,3,4Written feedback (to the group) via the course’s website on the examination
Mid-term 1 (first term)545 minutes1,2,3,4Written feedback (to the group) via the course's website on the examination
Mid-term 2 (second term)545 minutes1,2,3,4Written feedback (to the group) via the course’s website on the examination
0
0
0
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Examination 1 and Mid-termExamination 1, 2 hours 50%1,2,3,4August Examination Period
Examination 2 and Mid-termExamination 2, 2 hours 50%1,2,3,4August Examination Period

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

15/08/2016