Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Lecture
Module Offerings
4521NCCG-JAN-PAR
4521NCCG-SEP-PAR
4521NCCG-SEP_NS-PAR
Aims
To introduce non-specialists to the use of Micro-economic ideas, tools and models and to apply these to real -world situations.
To allow non-specialists to discuss and engage with Market theory as it applies to businesses.
To provide a perspective on the uses and limitations of these models.
Learning Outcomes
1.
Apply the Supply and Demand Model to a variety of real-world case studies.
2.
Discuss how markets operate as an allocation mechanism.
3.
Identify the various market structures and how these impact on competition.
4.
Evaluate theory against real-world outcomes.
Module Content
Outline Syllabus:Scarcity and Opportunity cost; origins with Malthus, the PPF, criticisms.
Markets, the economic problem and the allocation function.
The Supply and Demand Model, assumptions, application and shortcomings.
Measures of efficiency.
Market structures; Perfect Competition to Monopoly; the implications for allocation and efficiency.