Microeconomics 2 (L1031)
15 credits, Level 5
This module develops the economics principles learned in the first year (Microeconomics 1).
Alternative market structures, such as oligopoly and monopolistic competition are studied and comparisons drawn with perfect competition and monopoly.
Decision-making under uncertainty and over multiple time periods is introduced, relaxing some of the restrictive assumptions made in the first year module.
The knowledge gained is applied to such issues as investment in human capital (e.g. education), saving and investment decisions, insurance and criminal deterrence.
20%: Coursework (Essay)
80%: Examination (Unseen examination)
Contact hours and workload
This module is 150 hours of work. This breaks down into 22 hours of contact time and 128 hours of independent study.
This module is running in the academic year 2019/20. We also plan to offer it in future academic years. It may become unavailable due to staff availability, student demand or updates to our curriculum. We’ll make sure to let our applicants know of such changes to modules at the earliest opportunity.