University of Greenwich - ECON1182: Microeconomics II (Solutions)

ECON1182: Microeconomics II at the University of Greenwich explores microeconomic theory through a mix of mathematical, theoretical, and applied approaches. The module looks beyond traditional models by including social, political, and global factors such as inequality, sustainability, the 2008 financial crisis, Brexit, and COVID-19. Students will learn how individual choices are shaped by collective decision-making, limited knowledge, and the wider economic environment. The aim is to connect economic models with real-world situations and develop an understanding of how policy can be evaluated and improved through economic thinking.

By the end of the module, students will understand key microeconomic theories from both traditional and modern perspectives, including consumer theory, firm behaviour, and behavioural economics. They will gain skills in calculus, data handling, and using Excel for analysis, and will learn how to apply economic theory to current issues in domestic and global markets. Topics include neoclassical and modern consumer theory, labour markets, market structures (like monopoly and oligopoly), industrial organisation, general equilibrium, and behavioural economics. The course places strong emphasis on using economics to address challenges related to inequality, sustainability, and external shocks.