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EC5202 Microeconomics

SCOTCAT credits:20
Academic year(s):2017/8
Level:
SCQF Level 11
Semester:1
Availability restrictions:UG - Available only to students in the second year of the Honours programme with the permission of the Director of Teaching who have achieved at least 17.5 in EC3302 or EC3305.
Planned timetable:To be arranged.

This module will provide a thorough advanced treatment of the core models and concepts used in modern microeconomics. Microeconomic theory is concerned with the behaviour of individual economic actors (e.g. firms, consumers) and the aggregation of their actions in different institutional frameworks (e.g. markets), and models economic activity as an interaction of individual economic agents pursuing their private interests. Students will be presented with a set of concepts and mathematical techniques which will enable them to achieve a better understanding of economic activity and outcomes. This involves an understanding of how microeconomic models are built, focusing on their objective in terms of the phenomenon they are meant to explain, and the consequences of their assumptions in terms of the applicability of their predictions. Students are expected to have a strong undergraduate level training in macroeconomics, microeconomics and relevant mathematical and statistical techniques. Before commencement of the module,supplementary lectures will be given on the relevant mathematical methods.

Place in programme(s) and relationship to other modules

Undergraduate

Optional for all Economics degrees

UG Pre-requisite(s):EC3302 or EC3305 and Permission of the Director of Teaching

Postgraduate

Compulsory for MSc in Economics Either EC5201 or EC5202 is compulsory for MSc In Finance and Economics

Learning and teaching methods and delivery

Weekly contact:20 hours of lectures over 10 weeks, 1-hour tutorial (x 10 weeks) plus 1 office hour (x 12 weeks).
Total module hours:
  • Scheduled learning: 30
  • Guided independent study: 170

Assessment pattern

UG As defined by QAA:
  • Written examinations: 88%
  • Practical examinations: 0%
  • Coursework: 12%
UG As used by St Andrews:3-hour Written Examination = 75%, Coursework (including class test 12.5%) = 25%
UG Re-assessment:3-hour Written Examination = 100%
Postgraduate Assessment :3-hour Written Examination = 75%, Coursework = 25%
Re-assessment:3-hour Written Examination = 100%

Personnel

Module coordinator:Dr K Ozbek
Module teaching staff:Dr K Ozbek