EC201A-Microeconomics I.1

Module Provider: Economics
Number of credits: 20 [10ECTS credits]
Terms in which taught: Autumn and Spring
Module Convenor: Dr C Grant
Pre-requisites: EC1F1A EC1F1B
Co-requisites:
Modules excluded:
Module version for: 2008/9

Email: c.grant@reading.ac.uk

Aims:

Assessable learning outcomes:
At the end of the module students should be able to:
Understand and explain the main microeconomic theories of consumer and firm behaviour.
Analyse problems of decision-making and resource allocation using these theories.
Apply this analysis to a range of practical and policy-relevant issues.

Additional outcomes:

Outline content:
Preferences and utility. Consumer demand. Consumer’s surplus. Intertemporal choice – saving and borrowing. Allocation of time and labour supply. Risk and uncertainty.
Production. Cost. Perfect competition. Monopoly.

Brief description of teaching and learning methods:
Lectures will develop all the main material. Seminars or practicals will cover exercise material designed to facilitate understanding of lecture topics. Office hours will be available for students to consult lecturers on an individual basis.

Contact hours:

	Autumn	Spring	Summer
Lectures	9 x 2 hrs	3 x 2 hrs	2 x 1 hr
Tutorials/seminars	4 x 1 hr	1 x 1 hr
Practicals
Other contact (eg study visits)
Total hours	22	7	2
Number of essays or assignments	Optional essays; 2 compulsory multiple choice tests
Other (eg major seminar paper)

Assessment:
Coursework:
Two multiple choice tests.

Relative percentage of coursework:
Coursework has a weight of 20% in the final assessment mark.

Penalties for late submission:
Penalties for late submission will be in accordance with the University policy.

Examination:
One 2-hour unseen written paper.
Part 2 examinations begin in the fourth week of the Summer term.

Requirements for a pass:
A minimum mark of 40%.

Reassessment arrangements:
Re-examination for Part 2 modules takes place in August/September of the same year.