EC917-7-SP-CO:
Decisions, Markets and Information

The details
2023/24
Economics
Colchester Campus
Spring
Postgraduate: Level 7
Current
Monday 15 January 2024
Friday 22 March 2024
20
11 December 2023

 

Requisites for this module
(none)
(none)
(none)
(none)

 

(none)

Key module for

MSC L1N212 Economics of Business and Management

Module description

The module offers an introduction to microeconomic theory for students with little or no previous background in economics. The module will focus on the foundations of microeconomic theory: consumer theory, producer theory, and game theory. The module will complement the theory with case studies, applications, and policy-relevant debates that are relevant for business and management.

Module aims

The aims of this module are:



  • To provide students with an understanding of the foundations of microeconomic theory, with a particular focus on: consumer theory, producer theory, and game theory.

  • To provide students with a broad base of knowledge that allows them to undertake more advanced study in specialised areas of economics.

Module learning outcomes

By the end of this module, students will be expected to be able to:



  1. Demonstrate a comprehensive understanding of the foundations of microeconomic theory

  2. Demonstrate knowledge of consumer theory, producer theory, and game theory

  3. Demonstrate knowledge and critically evaluate the current debates in each of the areas of study.

Module information

Lecture 1: The Market and Budget Constraint



  • Varian, Chapters 1 and 2


 Lecture 2: Preferences and Utility



  • Varian, Chapters 3 and 4


 Lecture 3: Choice and Demand



  • Varian, Chapters 5 and 6


 Lecture 4: Market Demand and Equilibrium



  • Varian, Chapters 15 and 16


 Lecture 6: Technology and Profit Maximization



  • Varian, Chapters 19 and 20


 Lecture 7: Monopoly and Monopoly Behavior



  • Varian, Chapters 25 and 26


 Lecture 8: Oligopoly and Game Theory



  • Varian, Chapters 28 and 29


 Lecture 9: Game Applications and Asymmetric Information



  • Varian, Chapters 30 and 38


 Lecture 10: Externalities and Public Goods



  • Varian, Chapters 35 and 37

Learning and teaching methods

This module will be delivered via:

  1. One2-hour lecture per week
  2. One  1-hour class per week. 

The lectures and classes are face-to-face.  The lectures and classes will be inclusive to all, including those with additional learning needs.

Bibliography

This module does not appear to have a published bibliography for this year.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   Mid-term Test    100% 
Exam  Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period) 
Exam  Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period) 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
50% 50%

Reassessment

Coursework Exam
50% 50%
Module supervisor and teaching staff
Dr Victor Pouliquen, email: victor.pouliquen@essex.ac.uk.
Lectures and class: Dr. Victor Pouliquen / Voluntary support Classes: Dr Goher Fatima
For further information, send an email message to pgteco@essex.ac.uk.

 

Availability
No
No
No

External examiner

Miss Maria Kyriacou
Resources
Available via Moodle
Of 42 hours, 40 (95.2%) hours available to students:
0 hours not recorded due to service coverage or fault;
2 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Economics

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