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Microeconomics for Business B1

Please note that the following information may be subject to change.

Programme: Undergraduate

Module Code: N11115

Semester: Spring

Convenor: Debasmita Basak

Credits & Level: 10 credits, Level 1

Pre-requisites: N11606 (Microeconomics for Business A).

Co-requisites: None.

Target Students: Available to Qualifying Year students. CANNOT be taken if taking/taken N11607 Business Economics .CANNOT be taken by students from the School of Economics.

Delivery: 10 two-hour lectures; 3 one-hour seminars.

Assessment: One 2-hour examination. (100%)

Exam Format:Section A - Five questions - answer ALL questions (50%); all questions in this section carry equal marks. Section B - Four questions - answer ONE question. (50%).

Summary of Content Exchange and Trade
• Gains from trade
• Absolute and Comparative advantage

Consumer Theory
• Indifference analysis
• Attributes approach

Factor markets
• Labour markets
• Capital markets

Welfare Economics
• Market efficiency
• Externalities
• Public goods
• Information failure

Aims To develop an understanding of important economic concepts.

Key Words: Economics

Learning Objectives & Outcomes Professional practical skills
This module develops:
  • Ability to apply economic models to economic problems and phenomena.
Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
  • The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial organisation and managerial economics.
  • Understanding of distinctive economic theories, interpretations and modelling approaches, and their competent use
  • Economic principles and tools addressing the microeconomic issues of decision and choice
  • Economic principles and tools addressing the microeconomic issue of the relationships between principals and agents
  • Economic principles and tools addressing the microeconomic issue of economic welfare

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