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ES20011: Intermediate microeconomics 1

Follow this link for further information on academic years Academic Year: 2014/5
Further information on owning departmentsOwning Department/School: Department of Economics
Further information on credits Credits: 6
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: CW 30%, EX 70%
Further information on unit assessment Assessment Detail:
  • Coursework (CW 30%)
  • Examination (EX 70% - Qualifying Mark: 35)
Further information on supplementary assessment Supplementary Assessment: ES20011 Resit Exam (where allowed by programme regulations)
Further information on requisites Requisites: Before taking this unit you must take ES10001 and take ES10005
Further information on descriptions 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-AKB03 : BSc(Hons) Economics with Year long work placement (Year 2)
  • UHES-AFB02 : BSc(Hons) Economics and International Development (Year 2)
  • UHES-AKB02 : BSc(Hons) Economics and International Development with Year long work placement (Year 2)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 2)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (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)

* This unit catalogue is applicable for the 2014/15 academic year only. Students continuing their studies into 2015/16 and beyond should not assume that this unit will be available in future years in the format displayed here for 2014/15.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.