Intermediate Economics A
Module Code: ECU22011
Module Title: Intermediate Economics A
Module Sub-Title: Microeconomics
- ECTS Weighting: 5
- Semester/Term Taught: Semester 1
- Contact Hours: 22 academic hours (i.e. 50 minutes) of lectures and approximately 8-10 academic hours of tutorials
- Module Personnel: Lecturer - Professor Francis O'Toole
Module Learning Aims
This module aims to:
- provide those with a fundamental level of economics (e.g. ECU11011/EC11012) with the required foundation in microeconomic analysis/theory necessary for tackling more advanced economic policy and economic theory modules (ECU33011/ECU33012);
- provide the core building block for degree programmes specializing in economics, such as single or joint honors economics (e.g. BESS, PPES and TJH Economics);
- provide the appropriate microeconomic tools and terminology for the explanation and interpretation of economic phenomena;
- provide the generic theoretical concepts required for a critical analysis of real world economic issues; and,
- facilitate the use of clear and concise language that is required for microeconomic reasoning and policy-making.
Module Learning Outcomes
Having completed this module (successfully), you will be able to:
- describe, interpret and evaluate economic events through the application of economic analysis/theory;
- formulate and address economic policy issues using the language and approach of economic analysis/theory;
- set up and solve theoretical economic problems related to the topics in this module; and,
- articulate economic reasoning and results.
This module provides students with a broad overview of intermediate-level microeconomic theory. The material is built around the study of economic agents (e.g. consumers or producers) maximizing objectives (e.g. utility or profits) in an environment of economic constraints (e.g. income or costs). The theory will be supported by a number of applications (e.g. labour-leisure choice, consumption-savings choice).
Topics discussed include:
- Consumer theory (indifference curves and budget constraints);
- Producer theory (isoquant curves and isocost constraints);
- Market structure (perfect competition, monopoly, monopolistic competition and oligopoly);
- Game theory (Nash equilibrium);
- Factor markets; and,
- Welfare economics and general equilibrium.
Recommended Reading List
Saul Estrin, Michael Dietrich and David Laidler, Microeconomics, Pearson (recent edition) or Hal Varian, Intermediate Microeconomics with Calculus or Intermediate Microeconomics Norton, (recent edition).
Module Pre Requisite
ECU11011 & ECU11012 Introduction to Economics or equivalent (e.g. ECU11031 & ECU11032 Introduction to Economic Policy) and ECU11021 & ECU11022 Mathematics & Statistics (or equivalent).
ECU22012 Intermediate Economics B may be a co-requisite for students in some programmes.
It is envisaged that the allocation of assessment marks will be as follows:
- 30 per cent for a mid-term assignment to be submitted (via Blackboard) by the middle of Teaching Week 8 (i.e. approximately Wednesday 2nd November 2022, details to be confirmed); and,
- 70 per cent for a final examination (a F2F 90 minutes examination, details to be confirmed).