MICROECONOMICS - 2022/3

Module Overview

This module provides an in-depth introduction to the building blocks of graduate-level microeconomics. It introduces students to the modelling of economic behavior under certainty and uncertainty and the interplay among economic agents in markets.

Module provider

Economics

Module Leader

GARFAGNINI Umberto (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative content includes:

• Consumer choice


• Choice under uncertainty


• Theory of the firm


• Partial and general equilibrium


• Introduction to game theory

Assessment pattern

Alternative Assessment

N/A

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their knowledge of microeconomic theory, and their understanding of the appropriate techniques to use in analyzing complex economic problems.

Thus, the summative assessments for this module consist of:

• An in-semester test worth 25% of the final mark.


• A final exam covering the entire model worth 75% of the final mark.

Formative assessment and feedback

Students will receive verbal feedback during in-person lectures and tutorial sessions. Students are provided with weekly problem sets relating to the material covered in the lectures which they can solve either independently or in groups. Students receive guided solutions about the problem sets and in-person feedback during the tutorial sessions. Information about the assessments and sample papers are provided at the beginning of the semester for students to familiarize themselves with the setup of both assessments. Office hours provide students with additional opportunities for feedback.

Module aims

• Introduce students to the study of modern microeconomic theory
• Equip students with the tools needed to understand and build economic models
• Understand and analyze real-world economic problems in a systematic manner
• Enable students with the ability to critically evaluate economic research

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

Using in-person lectures, students are guided through the material in a systematic manner and any background knowledge required is covered to ensure students’ understanding of the module’s content. Lectures are interactive and designed to emphasize the connection between modern microeconomics and real-world problems. Tutorials are designed to help students gain familiarity and confidence in the analysis of microeconomic problems.

The learning and teaching methods include:

• Readings using lecturer's guidance


• Solving exercises


• Responding to questions in class


• Preparing and taking part in the test


• Lectures, which are recorded and disseminated as captured content


• Tutorials

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: ECOM020

Other information

In line with the University's curriculum framework, the School of Economics is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities in the following areas:

Resourcefulness and resilience. In this module, students will learn how to make constructive contributions to class debates and embrace different perspectives on real-life problems. Students will also develop their problem-solving skills through tutorials and assessments.

Global capabilities. Students will build global capabilities through class discussions of real-life examples and how to utilize models and techniques developed during the module to critically assess economic policies

Programmes this module appears in

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2022/3 academic year.