Principles of Microeconomic Theory 2: Markets, Prices and Strategy

ECON10172 Principles of Microeconomic Theory 2: Markets, Prices and Strategy 10 Semester 2 Undergraduate Level 1 Sofia Izquierdo Sanchez Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' First part HE study/Bachelors ' European Credit Transfer & Accumulation System Rating : 5.0 The aims of this course are: to provide a further introduction to the fundamental concepts and techniques of microeconomic analysis and expose students to a range of applications.The objectives of this course are that students will be able to: <ol> <li> have developed a solid grasp of microeconomic theory and quantitative methods;</li> <li> demonstrate knowledge of important areas of application.</li> <li> analyse and use analytical models for applications;</li> <li> evaluate and critically analyse microeconomic arguments, theories and policies.</li> </ol> The aims of this course are: to provide a further introduction to the fundamental concepts and techniques of microeconomic analysis and expose students to a range of applications.The objectives of this course are that students will be able to: <ol> <li> have developed a solid grasp of microeconomic theory and quantitative methods;</li> <li> demonstrate knowledge of important areas of application.</li> <li> analyse and use analytical models for applications;</li> <li> evaluate and critically analyse microeconomic arguments, theories and policies.</li> </ol>   The aims of this course are: to provide a further introduction to the fundamental concepts and techniques of microeconomic analysis and expose students to a range of applications. The objectives of this course are that students will be able to: <ol> <li> Have developed a solid grasp of microeconomic theory and quantitative methods.</li> <li> Demonstrate knowledge of important areas of application.</li> <li> Analyse and use analytical models for applications.</li> <li> Evaluate and critically analyse microeconomic arguments, theories and policies.   </li> </ol> Analytical skills Synthesis and evaluation of data. Problem solving Research Ability to independently locate and assess relevant literature, and to draw on these in developing understanding and constructing arguments. Other Time management and working to deadlines. ProvisionalA brief overview of the syllabus/topics:<ul><li>Competitive firms and markets (perfect competition, profit maximization, short and long run competition).</li><li>Monopoly (profit maximization, market power and welfare, regulation).</li><li>Pricing (price discrimination, bundling, advertising).</li><li>Game theory (static games, dynamic games, examples and applications).</li><li>Oligopoly models (Cournot models, Bertrand models, monopolistic competition).</li><li>OPTIONAL: General equilibrium and economic welfare (trade only, production and trade economies, efficiency and equity).</li></ul>  Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study 0 Other 100% 60% final exam – short answer questions40% individual essay   <ul> <li> Feedback in tutorials/classes.</li> <li> Office hours.</li> <li> Informal talk with the lecturer and tutor.</li> <li> Discussion board.</li> </ul> ECON10071A Advanced Mathematics Pre-Requisite Compulsory ECON10171 Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs Pre-Requisite Compulsory ECON10172 Co-requisite: ECON10171 N Jeffrey Perloff (2014) “Microeconomics with Calculus, Global Edition” (ISBN-10: 0273789988; ISBN-13: 9780273789987). Chapters 8-14.  0 0 0 For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary.