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ES10001: Introductory microeconomics

[Page last updated: 20 April 2021]

Academic Year: 2021/2
Owning Department/School: Department of Economics
Credits: 6      [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Certificate (FHEQ level 4)
Period:
Semester 1
Assessment Summary: EX 100%
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Aims: This course unit is designed to provide an introduction to the methods of microeconomic analysis, including the use of simple economic models and their application. The aims of the course are to enable students to derive conclusions from simple economic models and evaluate their realism and usefulness. Together with ES20011 Intermediate Microeconomics (to be taken in the second year), we aim to provide students with a thorough grounding in the basic principles of microeconomics and exposure to a range of applications.

Learning Outcomes: On completion of the course unit, students should be able to understand and apply basic microeconomic principles to the economic decisions of households and firms under a variety of market conditions. Students should be able to use these principles both to describe and to appraise these decisions, and should be competent in the verbal, diagrammatic and basic mathematical concepts and techniques used in introductory microeconomics. The second year unit, ES20011 further develops the theoretical toolkit, so that students will have a firmer and more formal grasp of both theoretical material and applications.

Skills: Basic grounding in introductory microeconomics. Students will acquire skills in problem solving through work completed in class and assessment. They will undertake a piece of applied research work with respect to a current topic in microeconomics.

Content: Introduction to Markets; Household Behaviour; Production and Costs; Perfect Competition and Monopoly; Imperfect Competition; Factor Markets - Labour; Risk and Uncertainty; Welfare Economics.

Programme availability:
NB. Postgraduate programme information will be added when the postgraduate catalogues are published in August 2021

ES10001 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 1)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 1)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 1)
  • UHES-AFB04 : BSc(Hons) Economics and Mathematics (Year 1)
  • UHES-AAB04 : BSc(Hons) Economics and Mathematics with Study year abroad (Year 1)
  • UHES-AKB04 : BSc(Hons) Economics and Mathematics with Year long work placement (Year 1)
  • UHES-ACB04 : BSc(Hons) Economics and Mathematics with Combined Placement and Study Abroad (Year 1)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 1)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 1)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 1)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 1)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 1)

Notes:

  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • Programmes and units are subject to change 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.
  • Find out more about these and other important University terms and conditions here.