Module Description

The module aids the students to develop knowledge and skills in the advanced understanding of microeconomics, in order to be able to solve complex problems of a larger scale regarding the specific aspects microeconomics study.

Module Aim

The aim of the module is to introduce students to the microeconomic environment and its basic concepts in an analytical form.

Module Learning Outcomes

After completion of the module students should be able to:

1. Assess the theory of choice and the basic underlying principles of market forces.
2. Analyse consumption and production decisions and the basic underlying principles.
3. Distinguish between the functions of competitive and imperfectly competitive markets.
4. Explain how the theory of the firm, the theory of the consumer and the different market structures can operate in a free market economy.