EC1002 Microeconomics

2024 to 2025 Semester 1

Curricular information may be subject to change

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 7

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Availability restrictions

The maximum enrolment in this module is 475 students. The module is not available to students in second year and above. If the module is over-subscribed at the end of the main advising period (after Wednesday in Orientation Week), a random ballot will be held for students who are not on an Economics degree programme, the BA International Honours International Relations programme, a supported pathway (Gateway and FE-HE) programme, or Visiting or Upskilling students who have enrolled on the module. Any student who is unsuccessful in the ballot will be contacted and asked to choose an alternative module.

Planned timetable

2.00 pm Mon, Tue, Thu

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr M A Leighton

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Margaret Leighton

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

The module provides an introduction to the market system and consumer and producer behaviour. Topics covered include demand, supply, elasticities, taxes, welfare and public goods. Different market structures are studied including perfect competition, monopoly and oligopoly. Market failure and the need for government intervention is also analysed. Strategic behaviour is investigated using game theory.

Relationship to other modules

Anti-requisites

YOU CANNOT TAKE THIS MODULE IF YOU TAKE EC1004

Assessment pattern

2-hour Written Examination = 50%, Coursework = 50%

Re-assessment

2-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

30 hours of lectures over 10 weeks, 1-hour tutorial (x 6 weeks).

Scheduled learning hours

The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours

164

The number of hours that students are expected to invest in independent study over the period of the module.

Intended learning outcomes

Understand and apply core concepts of microeconomics
Describe social interactions using microeconomic concepts
Solve basic problems of decision making under constraints
Understand, reproduce and analyse graphical and algebraic representation of key microeconomic concepts