- Course Code
- EC 1003
- Credit Points
- 20
- Course Coordinator
- Dr E Phimister
Pre-requisites
None.
Overview
Microeconomics studies the behaviour of consumers, employees and company managers as they interact while allocating resources among different possible uses. The course is divided into three. First, we will study the workings of markets in bringing together and coordinating the actions and decisions of different economic agents, usually through prices being established in markets. Second, we will focus on decision-making within companies as managers decide what to produce, in which quantities, and by which methods. We will also look at the role of governments in regulating competition among companies. Third, we will examine how market economics affect the welfare of society. We will look at the role of government, and also provide critical perspectives on how economic theories shape our understandings of how economics work, presenting a range of different perspectives. The course provides a critical introduction to the discipline, and a grounding for further study in economics.
Structure
3 one-hour lectures per week, 4 tutorials and 3 workshops.
Assessment
1st Attempt: 1 two-hour examination (70%) and in-course assessment (30%).
Resit: 1 two-hour examination (70%) and in-course assessment (30%).