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University of Exeter Business School

Microeconomics II

Module titleMicroeconomics II
Module codeBEE2025
Academic year2023/4
Credits30
Module staff

Dr Laura Munoz Blanco (Lecturer)

Dr Simone Meraglia (Convenor)

Dr Max Posch (Convenor)

Dr Alejandro Robinson Cortes (Convenor)

Duration: Term123
Duration: Weeks

11

11

0

Number students taking module (anticipated)

364

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.

Module aims - intentions of the module

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.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

  • 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

On successfully completing the module you will be able to...

  • 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

On successfully completing the module you will be able to...

  • 3. Communicate concepts/definitions/arguments both in writing and orally
  • 4. Develop the ability to prepare for and meet strict deadlines

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

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
Scheduled learning and teaching activity40Lectures hours
Scheduled learning and teaching activity4Revision lectures
Scheduled learning and teaching activity10Tutorials
Guided independent study246Reading, preparation for classes and assessments

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 1252 hours1,2,3,4Written feedback to the group on the course’s website on the examination
Examination 2402 hours1,2,3,4Written feedback (to the group) via the course’s website on the examination
Mid-term 1 (first term)1050 minutes1,2,3,4Written feedback (to the group) via the course's website on the examination
Mid-term 2 (second term)1050 minutes1,2,3,4Written feedback (to the group) via the course’s website on the examination
ELE Quizzes (first term)15Up to 3 hours1,2,3,4Written feedback (to the group) via the course’s website on the examination

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

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Examination 1 (25%)Examination 1 (25%)1,2,3,4August/September reassessment period
Mid-term 1 (10%)Mid-term 1 (10%)1,2,3,4August/September reassessment period
Examination 2 (40%)Examination 2 (40%)1,2,3,4August/September reassessment period
Mid-term 2 (10%)Mid-term 2 (10%)1,2,3,4August/September reassessment period
ELE Quizzes* (15%)Up to 3 hours (15%)1,2,3,4August/September reassessment period

Re-assessment notes

*Deferral of an individual quiz may result in an average being taken of quizzes that have been taken

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.

Key words search

Microeconomics II

Credit value30
Module ECTS

15

Module pre-requisites

Passed BEE1036 and passed BEE1037 (or BEE1029 for PPE students only)

Module co-requisites

Non-Requisites (cannot be taken with): BEE2038, BEE2039, BEE3062 or BEE3063

NQF level (module)

5

Available as distance learning?

No

Origin date

25/09/2013

Last revision date

26/09/2023