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Unit of study_

ECOS2001: Intermediate Microeconomics

The aim of Intermediate Microeconomics is the development of theoretical and applied skills in economics. It covers applications and extensions of the theory of consumer choice, firm behaviour and market structure. Emphasis is given to the economics of information and choice under uncertainty; industry structures other than monopoly and perfect competition; markets for factors of production; general equilibrium and economic efficiency; market failure and the role of government. This unit provides a basis for the more specialised options that comprise third year economics.

Code ECOS2001
Academic unit Economics
Credit points 6
ECON1001 or BUSS1040 or ECON1040
ECON2001 or ECON2901 or ECOS2901

At the completion of this unit, you should be able to:

  • LO1. demonstrate familiarity with the main microeconomic models describing consumer choice and firm behaviour
  • LO2. identify the likely outcome arising from the interaction of firms and consumers
  • LO3. understand microeconomic concepts and apply analytical models to describe 'real world' economic situations
  • LO4. understand the limitations of various models, distinguish between competing explanations of market behaviour and critically evaluate competing theories
  • LO5. intellectually participate in public policy discussions arising in business and government environments.