Teaching Responsibility

LJMU Schools involved in Delivery:

LJMU Partner Taught

Learning Methods

Lecture
Seminar
Tutorial

Module Offerings

3501FETQR-JAN-PAR

Aims

To gain an introduction to the concepts of micro-economics. Students will develop an understanding of economic principles and basic terminology, goods type, demand and supply, elasticity, market failure and contemporary issues in economics.

Learning Outcomes

1.
Demonstrate an understanding of the main concepts of economics
2.
Apply knowledge of supply and demand
3.
Demonstrate knowledge of price and income elasticity of demand and calculate cross- elasticity

Module Content

Outline Syllabus:
The economic problem - Types of goods - Allocation of resources in competitive markets - Elasticity - Price controls - Types of markets - Cost and revenue - Economies of scale, specialisation, integration and efficiency - Market failure

Assessments

Presentation
Exam