C28IE1 Intermediate Economics 1

Course Co-ordinator

Robbie Mochrie

Pre-requisites

Introductory Microeconomics or a Grade B Pass at Introductory Economics (Elective)

Linked Courses

None

Excluded Courses

None

Aims

Students will develop an understanding of the consumer theory which covers preferences, utility and choice notions and of the firm theory (dealing with technology, cost minimization and supply). They will also get an appreciation of the relationship between market structure and firm behaviour.

Syllabus

Consumer theory, Firm theory and General equilibrium and Welfare analysis.

Learning Outcomes

Subject Mastery

understand the principal elements of the theory of the consumer and the theory of the firm.
analyse choices as the outcome of a process of utility maximisation for consumers and profit maximisation for firms.
analyse and solve resource allocation problems and derive welfare outcomes.
relate concepts of microeconomics to real world problems.

Personal Abilities

Create a theoretical framework for consistent analysis of economic problems based on optimisation.

Assessment Methods

Method

Duration of Exam
(if applicable)

Weighting (%)

Programmework

20%

Mid semester Test

1-hour