Module ECON2161: Microeconomics for Finance

Department: Economics and Finance

ECON2161: Microeconomics for Finance

Tied To

• N302: Accounting and Finance with Business Placement
• N304: Accounting and Finance with Study Abroad
• N305: Finance
• N306: Finance with Business Placement
• N307: Finance with Study Abroad
• NN43: Accounting and Finance

Pre-requisites

Corequisites

Excluded Combinations

Aims

• By the end of the module students should:
• understand the nature of decision making: how consumers, firms, and investors take action and interact in markets.
• appreciate the application of microeconomic theories to demand and supply.
• understand how optimal decisions are taken under uncertainty.
• understand the nature of risk and risk attitudes of individuals.

Content

• The module draws upon:
• intermediate microeconomic theory and applications.
• the neo-classical theories of demand and supply.
• rational behaviour of consumers, firms and investors.
• profit-related objectives of firms.
• competitive, monopolistic, and oligopolistic markets.

Learning Outcomes

• Understand the workings of utility and profit maximisation.
• Understand the income and price effects on consumer demand and firm supply.
• Be familar with the concept of risk and be able to analyse decision making under uncertainty.
• Have an understanding of important aspects of firm behaviour, market structure and competitive policy

• Be able to use models to analyse microeconomic behaviour

• Written communication - writing clearly and concisely, setting down precisely the justification for any statement you make. This is developed through work submitted for formative and summative assignments.
• Planning and time management through meeting strict deadlines for the submission of summative work
• Computer literacy and information retrieval by word-processing the summative assignment

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures, seminars, and revision lectures. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study.
• Formative assessment is by means of an essay and an optional on-line multi-choice test.
• Summative assessment is by means of a written examination plus a written assignment.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

A compulsory 1500 word essay. An optional on-line multi-choice test.