EC201NU: Intermediate Microeconomics

Module code: EC201NU

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: Level 2 (Intermediate)

When you'll be taught: Semester 1

Module convenor: Dr Minyan Zhu, email: minyan.zhu@reading.ac.uk

NUIST module lead: Satru Sinah, email: 100117@nuist.edu.cn

Pre-requisite module(s): BEFORE TAKING THIS MODULE YOU MUST TAKE EC113NU AND TAKE EC114NU AND TAKE EC128NU (Compulsory)

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 23 May 2024

Overview

Module aims and purpose

This module builds on material covered in EC140NU Principles of Economics 1 and EC141NU Principles of Economics 2 and introduces students to some of the more advanced topics in microeconomic theory, including game theory and general equilibrium theory.

The aim of this module is to provide students with a more in-depth and rigorous understanding of core concepts and methods of microeconomics. The module builds on topics familiar to students from the first year, such as consumer and producer theory, and introduces new topics including game theory, bargaining, market competition, general equilibrium and welfare.

Module learning outcomes

By the end of the module, it is expected that students will be able to:

1. Demonstrate a sound understanding of microeconomic principles, theories and methods of analysis
2. Apply analytical methods to solve and interpret economic problems
3. Apply microeconomic concepts and methods to analyse and interpret real-world microeconomic phenomena

Module content

The module will cover:

• Institutions as coordinators of gains from trade; social outcomes from strategic interaction; game theory
• Models of purposeful human behaviour; constraints and preferences; optimisation; indifference curves
• Division of resources; mutually beneficial exchange; bargaining
• Undefined property rights and other collective action problems
• Production and the theory of the unitary firm
• Consumers and demand
• The supply of goods in competitive and non-competitive markets; market outcomes; and the effect of policies
• Oligopolistic competition between firms

Structure

Teaching and learning methods

Lectures will develop all the main material. Tutorials will cover exercise material designed to facilitate understanding of lecture topics. Office hours will be available for students to consult the lecturer on an individual basis. 

Study hours

At least 80 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

There will be quizzes, assignments and problem sets given to students. 

Reassessment

Additional costs