Module Details

Module Specification

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.

Module Title

Microeconomic Analysis

Module Code

ECON915

Year

Session 2023-24

Originating Department

Management School

Faculty

Fac of Humanities & Social Sci

Semester

First Semester

CATS Level

Level 7 FHEQ

CATS Value

Member of staff with responsibility for the module

Dr CW Bach

Economics

C.W.Bach@liverpool.ac.uk

10.

Module Moderator

11.

Other Contributing Departments

12.

Other Staff Teaching on this Module

Ms L Brough	Management School	L.Brough@liverpool.ac.uk
Mrs JA Reddy	Management School	J.A.Reddy@liverpool.ac.uk
Mrs ME Jlassi	Management School	M.E.Obrien1@liverpool.ac.uk
Mr MR McDonough	Management School	Michael.Mcdonough@liverpool.ac.uk
Mr L Dowdall	Management School	Luke.Dowdall@liverpool.ac.uk
Mr LA Bedeau	Management School	Leon.Bedeau@liverpool.ac.uk
Miss NE Wood	Management School	N.E.Wood@liverpool.ac.uk
Mr DRA Horne	Management School	D.Horne@liverpool.ac.uk

13.

Board of Studies

14.

Mode of Delivery

15.

Location

Main Liverpool City Campus

		Lectures	Seminars	Tutorials	Lab Practicals	Fieldwork Placement	Other	TOTAL
16.	Study Hours	20	5					25
17.	Private Study							125
18.	TOTAL HOURS							150

		Lectures	Seminars	Tutorials	Lab Practicals	Fieldwork Placement	Other
19.	Timetable (if known)

20.	Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

21.	Modules for which this module is a pre-requisite:

22.	Co-requisite modules:

23.	Linked Modules:

24.	Programme(s) (including Year of Study) to which this module is available on a mandatory basis:

25.	Programme(s) (including Year of Study) to which this module is available on a required basis:

26.	Programme(s) (including Year of Study) to which this module is available on an optional basis:

27.

Aims

This module aims to provide an opportunity to understand and appreciate the fundamental aspects of decision making in an uncertain environment, allowing for the possible synchronic or diachronic incidence of risk. Individual risk linked behaviour will be linked to symmetric and asymmetric imperfect information scenarios. In this context individual or circumscribed group behaviour may be related to an aggregate and institutional context.

28.

Learning Outcomes

(LO1) An appreciation of the basic aspects of consumer and producer decision making both under certainty and uncertainty;

(LO2) An understanding of the underlying assumptions needed to justify the existence of a general competitive equilibrium;

(LO3) An understanding of the relationship between a general equilibrium and welfare considerations.

(S1) Problem solving skills

(S2) Numeracy

(S3) Organisational skills

(S4) Communication skills

(S5) Lifelong learning skills

29.

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

30.

Syllabus

Topic 1: Consumer theory;

Topic 2: Topics in consumer theory;

Topic 3: Theory of the firm;

Topic 4: Partial equilibrium;

Topic 5: General equilibrium;

Topic 6: Social choice and welfare.

31.

Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.

Assessment

32.	EXAM	Duration	Timing (Semester)	% of final mark	Resit/resubmission opportunity	Penalty for late submission	Notes
	Examination There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When): 1	2		80

33.	CONTINUOUS	Duration	Timing (Semester)	% of final mark	Resit/resubmission opportunity	Penalty for late submission	Notes
	Mid-term test There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When): 1	24		20