Department of Economics, Unit Catalogue 2011/12
|Level:||Intermediate (FHEQ level 5)|
|Assessment:||CW 30%, EX 70%|
|Supplementary Assessment:||ES20011 Resit Exam (where allowed by programme regulations)|
|Requisites:||Before taking this unit you must take ES10001 and take ES10005|
The aim of this unit is to build on first year microeconomics by providing a more in-depth and rigorous approach to microeconomic analysis. It serves as part of a year long course in intermediate microeconomics, although it can also be taken as a self contained unit. The emphasis will be on consumer theory, both in the context of certainty and uncertainty, and production theory as applied to the perfectly competitive firm. The importance of intuition in motivating and explaining economic problems is stressed throughout the unit.
On completion of this unit students should be able to apply analytical methods to solve economic problems such as utility and profit maximisation when there are constraints on choice.
Ability to frame problems in a formal manner.
Ability to parameterise relevant aspects of economic problems.
Ability to interpret results.
Ability to put forward policy prescriptions on the basis of analysis.
The theory of consumer behaviour; production theory, markets, risk and uncertainty.
H.Varian Intermediate Microeconomics - A Modern Approach.
ES20011 is Compulsory on the following programmes:Department of Economics
ES20011 is Optional on the following programmes:School of Management