Microeconomic Analysis for Finance module (BU31003)

The module looks at microeconomics: the study of small scale behaviour in the economy, exploring the differences between firms and individual consumers.

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Credits

15

Module code

BU31003

You will build upon your knowledge of Microeconomics to better understand the behaviour and decision-making processes of households, firms, and markets. Learn more about supply and demand, pricing, production, consumer choices, the allocation of resources, and economic efficiency.

There are two parts to this module. The first part looks at spending by consumers and also the making of profits and production of goods by firms. In the second part, you will look at various markets with higher and lower levels of competition, from monopolies to highly competitive markets.

What you will learn

In this module, you will:

  • examine the situation where there are few firms in the market, otherwise known as oligopolies
  • discuss the issues of collusion, pricing, costs and returns to scale
  • explore advertising and what happens when firms do not have full information about their environment
  • consider look at alternative theories of the firm, which deviate from that taught in the mainstream.

By the end of this module, you will be able to:

  • discuss the economic theory of the consumer
  • understand the economic theory of the firm and markets for labour and capital
  • analyse the effect of market structure on prices and the quantity of goods produced

Assignments / assessment

  • Class test (30%)
  • Final exam (70%)

Teaching methods / timetable

You should expect weekly lectures and workshops, a reading list will be provided for you to have prepared in advance to allow you to contribute to the class.

For this module, the exact dates of teaching and/or reading weeks are to be confirmed.

Courses

This module is available on following courses: