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.
Teaching and assessment
We’re currently reviewing teaching and assessment of our modules in light of the COVID-19 situation. We’ll publish the latest information as soon as possible.
Contact hours and workload
This module is approximately 150 hours of work. This breaks down into about 33 hours of contact time and about 117 hours of independent study. The University may make minor variations to the contact hours for operational reasons, including timetabling requirements.
We’re planning to run this module in the academic year 2020/21. However, there may be changes to this module in response to COVID-19, or due to staff availability, student demand or updates to our curriculum. It may not be possible to take some module combinations due to timetabling constraints. We’ll make sure to let our applicants know of material changes to modules at the earliest opportunity.
This module is offered on the following courses:
- Economics (with a professional placement year) BA
- Economics (with a professional placement year) BSc
- Economics BA
- Economics BSc
- Economics and Finance BSc
- Economics and International Development BA
- Economics and International Relations BA
- Economics and Management Studies BSc
- Economics and Politics BA
- Mathematics with Economics BSc
- Mathematics with Economics MMath
- Philosophy, Politics and Economics (PPE) BA