Module Specifications..
Current Academic Year 2023 - 2024
Please note that this information is subject to change.
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Repeat examination |
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Description The purpose of this module is to introduce students to microeconomic theory, principles, policy and practice. Economic concepts and models will be assessed and evaluated as explanations of the workings and outcomes of the micro economy including consumers, enterprises and markets. In addition, the conclusions from the above will inform microeconomic policy issues and their evaluation. Delivery is through a combination of lectures, tutorials, home exercises and on-line activities. | |||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 1. Define key concepts used in microeconomics 2. Present and evaluate microeconomic theories and models 3. Apply these microeconomic concepts to numerical analysis and actual microeconomic world situations 4. Discuss and assess the form and consequences of Government microeconomic policy and market intervention | |||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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Indicative Content and Learning Activities
economic methodology and thinking and introduction to economicseconomic determinants of behaviour, other determinants of behaviour, scarcity, opportunity costs, resources, insatible wants, wants and needs, economic systems, areas of economics macro and micro economiesdemand and supply theory and applicationsdemand curves and functions, supply curves and functions, application of supply/demand theory, market price, shifts in curves, maximum and minimum price intervention, tax incidence, critique of s/d modelelasticity of demand and supplyconcept of elasticity, price, income and cross elasticities of demand and price elasticity of supply, benefits of elasticity, values of elasticities, determinants of price elasticity, price elasticity and revenue, price elasticity and tax, use of price elasticity in private and public decision-making, issues in the use of elasticityproduction and costfactors of production, production functions, short and long runs, law of diminishing returns, economies and diseconomies of scale, short run cost model, long run cost model, minimum efficient scale, impact of economies of scale on structure of industry, world issues in cost and productiontheory of firm and market structuretypes of profit and their roles, profit maximising rule of MC=MR, revenue maximising objective, other objectives of firm, characteristics of perfect competition, monopolistic competition and advertising, oligopoly and monopoly, perfect competition model and PC short-run and long-run equilibrium positions, monopoly model and equilibrium, use of models to compare and contrast competition and monopoly, applicationsmarket failurenature and sources of market failure and market imperfections. policy intervention to deal with market failure | |||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List | |||||||||||||||||||||||||||||||||||||||||
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Other Resources 59015, website, Central Statistics Office, ESRI ,Revenue Commissioners, 2015, multiple, | |||||||||||||||||||||||||||||||||||||||||
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