Course Details in 2024/25 Session

Module Title	LM Microeconomics
School	Birmingham Business School
Department	Economics
Module Code	07 40071
Module Lead	Siddhartha Bandyopadhyay
Level	Masters Level
Credits	20
Semester	Semester 1
Pre-requisites
Co-requisites
Restrictions	None
Exclusions
Description	This module deals with the foundations of economics, examining the behaviour of the two most basic agents of the economy, the consumer and the firm, their interaction in markets, and social decisions. The module emphasises the formal derivation of results and problem solving, but also examines how the concepts and methods can be used to understand and explain real-world economic phenomena. The main theoretical devices employed are optimisation theory and elements of game theory, while mathematical techniques with which students may be unfamiliar will be developed and explained during the module. These methods will be used to develop an advanced understanding of how markets work and to analyse microeconomic problems and policy.
Learning Outcomes	By the end of the module students should be able to: explain and appraise advanced microeconomic principles, theories and methods of analysis apply analytical methods to solve and interpret complex economic problems, for example choice and uncertainty critically evaluate the use of microeconomic concepts and methods to analyse and interpret real-world microeconomic phenomena derive microeconomic models mathematically and solve mathematical problems
Assessment
Assessment Methods & Exceptions	Assessment: 1500-word equivalent individual problem-solving assignment (50%). 1.5 hour exam (50%). Reassessment: Resubmission of failed component(s): 1500-word equivalent individual problem-solving assignment (50%). 1.5 hour exam (50%).
Other
Reading List