Microeconomics (Module Code: 08 28536) - University of Birmingham

This core module covers intermediate microeconomics. It provides students with a broader, yet more in-depth understanding of core microeconomic topics covered in the introductory Principles of Economics module and equips students with the analytical skills and tools that are necessary for undertaking a more comprehensive economic analysis. This module provides the solid underpinning needed in all microeconomics - based modules in subsequent terms.

At the start, the module is primarily concerned with the theories of consumer behaviour under certainty and uncertainty, including game theory. Then, it covers the firm and the theory of perfectly and imperfectly competitive markets. The module introduces general equilibrium analysis and then develops students’ understanding of externalities and public goods, before concluding with the introduction of asymmetric information.

The module adopts microeconomic methods and tools used in the real-life economic analysis. Basic mathematical techniques and calculus are used.

By the end of the module students should be able to:

• demonstrate knowledge and critical understanding of core microeconomic theories and concepts;
• analyse the workings of different market structures;
• apply core microeconomic concepts to various economic situations, such as producer and consumer optimal decisions, efficiency and welfare, market failure.