Module ECON2161: Microeconomics for Finance

Department: Economics and Finance

ECON2161: Microeconomics for Finance

Prerequisites

• Introduction to Economics.

Corequisites

• None.

Excluded Combination of Modules

• None.

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.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University