Economics

Microeconomics 1

Module code: L1053
Level 4
15 credits in spring semester
Teaching method: Seminar, Lecture
Assessment modes: Coursework, Unseen examination

On this module, you’ll dive into consumer and producer theory, covering topics like:

  • consumer surplus
  • labour supply
  • production and costs of the firm
  • alternative market structures
  • factor markets.

You’ll explore how these concepts apply to public policy, using real-world examples to highlight the practical value of the theory.

Module learning outcomes

  • Have demonstrated a critical understanding of the principles of economics
  • Be able to use the power of abstraction to focus upon the essential features of an economic problem and to provide a framework for the critical understanding and evaluation of the effects of policy or other exogenous events.
  • Have demonstrated the ability to carry out self-directed study and research
  • Have learned to understand the importance of, and be able to construct and develop, rigorous argument to help evaluate ideas.