Microeconomics II
| Module title | Microeconomics II |
|---|---|
| Module code | BEE2025 |
| Academic year | 2024/5 |
| Credits | 30 |
| Module staff | Dr Alejandro Robinson Cortes (Convenor) Dr Simone Meraglia (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 | 11 |
| Number students taking module (anticipated) | 364 |
|---|
Module description
The module is designed to equip you with the key microeconomic principles necessary for the analysis of a range of basic economic problems and policies. The module builds on first-year microeconomics and aims to both deepen and widen your formal knowledge of economic theory and its application. It seeks, in particular, to increase your abilities to, independently, pose and solve economic questions, especially those relating to policy issues. It emphasizes the fundamental conceptual foundations in microeconomics and provides concrete examples of their applications.
Internationalisation
Microeconomics is relevant across countries as it is based on mathematical models,
Sustainability
All of the resources for this module are available on the ELE (Exeter learning Environment).
Employability
This module equips you with logical thinking, numeracy and writing skills, as well as an understanding and theoretical knowledge of economic issues. These help you think like economists, a quality highly valued by employers.
Module aims - intentions of the module
The module is designed to equip you with the key microeconomic principles necessary for the analysis of a range of basic economic problems and policies. The module builds on first-year microeconomics and aims to both deepen and widen your formal knowledge of economic theory and its application. It seeks, in particular, to increase your abilities to, independently, pose and solve economic questions, especially those relating to policy issues. It emphasises the fundamental conceptual foundations in microeconomics and provides concrete examples of their applications.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Have a comprehensive and detailed knowledge and understanding of intermediate and advanced microeconomic theory and be able to apply economic reasoning to the analysis of economic questions and policy
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 2. Identify, present and explain standard theoretical economic models and apply them to analyses of economic questions and policy issues
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 3. Communicate concepts/definitions/arguments both in writing and orally
- 4. Develop the ability to prepare for and meet strict deadlines
Syllabus plan
- Technology and Supply
- Profit Maximization
- Market Structure and Competition
- Monopoly and Price Discrimination
- Oligopoly Theory
- Advanced Game Theory
- Principal - Agent, adverse selection, moral hazard
- Externalities and Public Goods.
- Preferences and Utility
- Demand
- Firms’ Production and Supply
- General Equilibrium Theory
- Revision
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 59 | 241 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching | 40 | Lectures |
| Scheduled learning and teaching | 4 | Revision lectures |
| Scheduled learning and teaching | 15 | Tutorials |
| Guided independent study | 241 | Reading, preparation for classes and assessments |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| In-class Q&A | 15 minutes | 1, 2, 3, 4 | Correct answers in class |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination 1 | 25 | 2 hours | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
| Examination 2 | 40 | 2 hours | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
| Mid-term 1 (first term) | 10 | 50 minutes | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
| Mid-term 2 (second term) | 10 | 50 minutes | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
| ELE Quizzes (first term) | 15 | Up to 3 hours | 1,2,3,4 | Written feedback to the group on the courses website on the examination |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examination 1 (25%) | Examination 1 (25%) | 1,2,3,4 | Referral/Deferral period |
| Mid-term 1 (10%) | Mid-term 1 (10%) | 1,2,3,4 | Referral/Deferral period |
| Examination 2 (40%) | Examination 2 (40%) | 1,2,3,4 | Referral/Deferral period |
| Mid-term 2 (10%) | Mid-term 2 (10%) | 1,2,3,4 | Referral/Deferral period |
| ELE Quizzes* (15%) | ELE Quizzes (Up to 3 hours) (15%) | 1,2,3,4 | Referral/Deferral period |
Re-assessment notes
*Deferral of an individual quiz may result in an average being taken of quizzes that have been taken.
Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.
Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%
Indicative learning resources - Basic reading
The following textbook is also highly recommended:
- Varian, Hal R., Intermediate microeconomics: a modern approach. New York, NY: WW Norton & Company, 2010.
| Credit value | 30 |
|---|---|
| Module ECTS | 15 |
| Module pre-requisites | Passed BEE1036 and passed BEE1037 (or BEE1029 for PPE students only) |
| Module co-requisites | Non-Requisites (cannot be taken with): BEE2038, BEE2039, BEE3062 or BEE3063 |
| NQF level (module) | 5 |
| Available as distance learning? | No |
| Origin date | 25/09/2013 |
| Last revision date | 05/02/2024 |
