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.
60%: Coursework (Essay, Test)
40%: Examination (Take away paper)
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 regularly review our modules to incorporate student feedback, staff expertise, as well as the latest research and teaching methodology. We’re planning to run these modules in the academic year 2021/22. However, there may be changes to these modules in response to COVID-19, staff availability, student demand or updates to our curriculum. 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: