INTERMEDIATE MICROECONOMICS 2 - 2017/8
Module code: ECO2051
BLOW LE Ms (Economics)
Number of Credits
FHEQ Level 5
Module cap (Maximum number of students)
Overall student workload
Independent Study Hours: 123
Lecture Hours: 20
Tutorial Hours: 5
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - MULTIPLE CHOICE QUESTIONS - 45 MINUTES||25%|
|Examination||EXAM - 2HOURS - MULTIPLE CHOICE AND ESSAY QUESTIONS||75%|
Prerequisites / Co-requisites
The first semester module on Intermediate Microeconomics focuses primarily on the behaviour of perfect markets. This module considers a number of cases which break these perfect conditions. These cases include uncertainty, consumption and production externalities and asymmetric information. This module examines how agents behave in these settings and how methods of consumer choice are applied to these cases.
promote an understanding of how agents behave when markets are limited or non-existent.
To investigate a number of deviations from the perfectively competitive case.
|Understand the implications of different types of market failure for standard microeconomic analysis||KP|
|Be able to solve mathematical problems under these conditions||CT|
|Be able to graphically and intuitively explain the theory they learn.||KCT|
|Be able to apply the techniques they learn to unfamiliar situations.||KCT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Indicative content includes:
Behaviour under uncertainty
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
enhance skills in applying techniques of consumer choice to different situations such as choice under uncertainty or choice of a social planner,
enhance understanding and intuition of microeconomic theory
enhance skills in applying mathematical methods to microeconomic theory
The learning and teaching methods include:
2 hour lecture per week x 11 weeks
1 hour feeback session per week x 5 weeks
The assessment strategy is designed to provide students with the opportunity to demonstrate:
their understanding of intermediate microeconomics, and how these economic (theoretical) frameworks allow to explain important issues such as welfare, externalities, public goods and imperfect information
Thus, the summative assessment for this module consists of:
One coursework tests (25% of the final mark) held in the class and a final exam (75% of the final mark
The coursework test consists of multiple choice questions (usually held in week 7 or week 8).
Final exam of two hours, which consists of both multiple choice questions and essay questions, with topics covering all 11 weeks.
The multiple choice test allows students to demonstrate their further understanding of microeconomics, ability to correctly describe concepts and solve mathematical problems.
The essay questions allow students to show their verbal and analytical skills to explain and discuss microeconomic theory.
Formative assessment and feedback
Students receive verbal feedback during lectures and tutorials. They have fortnightly feedback sessions. For these, students are being provided with a set of exercises relating to the lecture material which they solve independently or in teams. In the feedback sessions, they receive feedback on their answers, and guidance on how these answers could be improved. For both courseworks and the exam, sample questions are made available for students so that they can familiarise themselves with the setup.
Reading list for INTERMEDIATE MICROECONOMICS 2 : http://aspire.surrey.ac.uk/modules/eco2051
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.