Nottingham University Business School
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Microeconomics for Business A

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

Programme: Undergraduate

Module Code: N11606

Semester: Autumn

Convenor: Kevin Amess

Credits & Level: 10 credits; Level 1

Pre-requisites: None.

Co-requisites: None.

Target Students: Available to Business School Qualifying Year students. CANNOT be taken if already taken/taking N11607 Business Economics.

Delivery: 10 two-hour lectures, and 3 one-hour tutorials

Assessment: One 1.5 hour examination (75%); One 1500 word individual coursework (25%)

Exam Format:100% multiple choice exam consisting of 40 multiple choice questions. All questions must be answered. All correct answers carry equal marks. Incorrect answers will receive a negative mark. No penalty if no answer is given.

Summary of Content This module introduces students to the microeconomic theory of the market and the firm. Topics covered include:

Market Demand; Supply and Equilibrium; Firm Production and Costs; Market Structure; Perfect Competition; Monopolistic Competition; Oligopoly and Monopoly.

Aims To introduce students to key microeconomic tools and concepts in order to prepare them for Level 2 economic modules.

Key Words: Microeconomics; Market Mechanism; Demand; Supply and Equilibrium; Production Function; Production Costs Function; Perfect Competition; Monopoly; Oligopoly.

Learning Objectives & Outcomes Knowledge and understanding
This module develops a knowledge and understanding of:
  • The development, access and operation of markets for resources, goods and services
  • A coherent core of economic principles, including the microeconomics of decision and choice, production and exchange.

    Understanding extends to economic policy, analytical methods and model-based argument.

    Ability to apply core economic theory and economic reasoning to applied topics.

    The application of economics, in particular the fields of business economics and industrial economics.
Intellectual skills
This module develops:
  • Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
  • The ability to apply economic models to economic problems and phenomena.
Transferable (key) skills
This module develops:
  • Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time
  • Articulating and effectively explaining information
Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
  • Understanding of distinctive economic theories, interpretations and modelling approaches, and their competent use
  • The applications of economics to design, guide and interpret commercial, economic, social and environmental policy.
  • Economic principles and tools addressing the microeconomic issues of decision and choice
  • Economic principles and tools addressing the microeconomic issues of the production and exchange of goods
  • Economic principles and tools addressing the microeconomic issues of the pricing and use of inputs
  • Economic principles and tools addressing the microeconomic issue of economic welfare

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