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EC5202   Microeconomics

Academic year(s): 2017-2018

Key information

SCOTCAT credits : 20

ECTS credits : 10

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.

Relationship to other modules

Pre-requisite(s): EC3303 or EC3306 and permission of the director of teaching

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).

Scheduled learning hours: 30

Guided independent study hours: 170

Assessment pattern

As used by St Andrews: 3-hour Written Examination = 75%, Coursework (including class test 12.5%) = 25%

As defined by QAA
Written examinations : 88%
Practical examinations : 0%
Coursework: 12%

Re-assessment: 3-hour Written Examination = 100%

Personnel

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