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ES20011: Intermediate microeconomics 1

[Page last updated: 10 August 2020]

Follow this link for further information on academic years Academic Year: 2020/1
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Intermediate (FHEQ level 5)
Further information on teaching periods Period:
Semester 1
Further information on unit assessment Assessment Summary: CW100
Further information on supplementary assessment Supplementary Assessment:
ES20011 Resit Exam (where allowed by programme regulations)
Further information on requisites Requisites: Before taking this module you must ( take ES10001 OR take ES10010 ) AND ( take ES10005 OR take MA10207 OR take ES10158 )
Description: Aims:
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.

Learning Outcomes:
By the end of this unit, students should have a clear understanding of the conceptual issues underlying optimisation problems facing the consumer and the firm, both under the assumptions of certainty and uncertainty. They should have developed further their understanding of microeconomics from 1st year and be in a good position to build on the knowledge gained in this course should they take the ES30025 Advanced Microeconomics course in final year.

Students should gain the
* ability to frame and solve consumer and firm optimisation 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 course is roughly based on the 1st half of the key text: Varian, H.R., Intermediate microeconomics, A modern approach, WW Norton & Company, 2006. The topics covered are:
* consumer theory
* intertemporal choice
* uncertainty & information
* competitive markets
* game theory.
Further information on programme availabilityProgramme availability:

ES20011 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 2)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 2)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 2)
  • UHES-AFB04 : BSc(Hons) Economics and Mathematics (Year 2)
  • UHES-AAB04 : BSc(Hons) Economics and Mathematics with Study year abroad (Year 2)
  • UHES-AKB04 : BSc(Hons) Economics and Mathematics with Year long work placement (Year 2)
  • UHES-ACB04 : BSc(Hons) Economics and Mathematics with Combined Placement and Study Abroad (Year 2)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 2)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 2)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 2)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 2)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 2)

ES20011 is Optional on the following programmes:

School of Management
  • UMMN-AFB02 : BSc(Hons) Accounting and Finance (Year 2)
  • UMMN-AKB02 : BSc(Hons) Accounting and Finance with Year long work placement (Year 2)