UNIVERSITY OF LIVERPOOL 
ECON121: Principles of Microeconomics 
Final Examination Guide and Notes 2025 
 
Part 01: Revision Notes 
Part 02: Sample Final Examination Paper 
Part 03: Suggested Solutions to Final Exam Paper 
Part 04: Final Examination - Hints and Tips 
 
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University of Liverpool - Principles of Microeconomics (ECON121)

£35.00

ACADEMIC YEAR 2024 - 2025

University	University of Liverpool
Module Code	ECON121
CATS Level	Level 4 FHEQ
CATS Value	15
Module Name	Principles of Microeconomics
Notes Title	Final Examination Guide and Notes
Page Length	121

Consolidate and practise the skills you've acquired with step-by-step guidance from our top tutors in ECON121: Principles of Microeconomics at the University of Liverpool - helping you unlock your full potential. This comprehensive revision guide covers all examinable material outlined in the module syllabus. Each topic is analysed in depth, with every learning outcome thoroughly explained. Clear diagrams accompany key concepts to enhance understanding and aid retention. Whether you're revising topics or preparing for your exam, this guide is an invaluable resource for achieving success.

This module introduces the fundamental principles of microeconomics, focusing on how individuals and firms make decisions. It builds a strong foundation in economic modelling, helping students understand and solve core problems using mathematical techniques. The module emphasises the role of rational decision-making, optimisation, and equilibrium in analysing real-world situations. By developing critical and analytical thinking skills, students will learn how to apply economic models to both consumer and producer behaviour.

The syllabus is divided into three parts. Introduction covers the basics of microeconomics, including rational decision-making and supply and demand analysis. Consumer Theory explores how consumers make choices using indifference curves, budget constraints, and utility functions, with applications of Lagrangian Optimisation and demand analysis. Producer Theory examines production processes, cost functions, and the theory of costs, providing insight into how firms make production decisions.

This module forms the foundation for more advanced microeconomics courses. Pre-requisite for: ACFI320, ECON213, ECON221, ECON222, ECON227, ECON233, ECON241, ECON250, ECON251, ECON307, ECON333, and ECON312.

MODULE CODE	MODULE NAME
ACFI101	Introduction to Financial Accounting
ACFI102	Introduction to Management Accounting
ACFI103	Introduction to Finance
ACFI201	Financial Reporting 1
ACFI204	Financial Management
ACFI225	Econometrics for Finance 1
ACFI231	Theory of Finance I
ACFI234	Theory of Finance II
ACFI304	Business Finance
ACFI309	Financial Reporting 2
ACFI310	Derivative Securities
ACFI321	Capital Markets
ACFI342	Financial Risk Management
EBUS205	Business Analytics
ECON112	Statistics & Data Analysis for Economics and Business
ECON121	Principles of Microeconomics
ECON123	Principles of Macroeconomics
ECON154	Statistical Foundations of Business Analytics
ECON210	Principles of Economics 2
ECON213	Econometrics 2
ECON222	Microeconomics 2
ECON233	Introductory Econometrics for Business & Economics
ECON241	Securities Markets
MKIB153	Fundamentals of Marketing
ULMS151	Organisations and Management

University of Liverpool - Principles of Microeconomics (ECON121)

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