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Module Specifications..

Current Academic Year 2022 - 2023

Please note that this information is subject to change.

Module Title Introduction to Microeconomics
Module Code EF113
School DCUBS
Module Co-ordinatorSemester 1: Ann Largey
Semester 2: Ann Largey
Autumn: Ann Largey
Module TeachersAnn Largey
Rhea George
Majella Brereton
Edgar Morgenroth
Glenn McNamara
NFQ level 8 Credit Rating 5
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None
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.

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

Workload Full-time hours per semester
Type Hours Description
Lecture24Formal lectures presenting and discussing key concepts, models and ideas in microeconomics
Tutorial12Fortnightly tutorials based on structured exercises and response to students
Independent Study84Study, exercises, tutorial related work, revision
Total Workload: 120

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

Indicative Content and Learning Activities
economic methodology and thinking and introduction to economics
economic determinants of behaviour, other determinants of behaviour, scarcity, opportunity costs, resources, insatible wants, wants and needs, economic systems, areas of economics macro and micro economies

demand and supply theory and applications
demand 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 model

elasticity of demand and supply
concept 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 elasticity

production and cost
factors 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 production

theory of firm and market structure
types 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, applications

market failure
nature and sources of market failure and market imperfections. policy intervention to deal with market failure

Assessment Breakdown
Continuous Assessment100% Examination Weight0%
Course Work Breakdown
TypeDescription% of totalAssessment Date
ParticipationParticipation in workshops and prior completion of online assessments.15%Every Second Week
In Class TestMidterm test20%n/a
In Class TestEnd-of-Semester Final Examination65%Week 12
Reassessment Requirement Type
Resit arrangements are explained by the following categories;
1 = A resit is available for all components of the module
2 = No resit is available for 100% continuous assessment module
3 = No resit is available for the continuous assessment component
This module is category 1
Indicative Reading List
    Other Resources
    53647, website, Central Statistics Office, ESRI ,Revenue Commissioners, 2015, multiple,
    Programme or List of Programmes
    AFBA in Accounting and Finance
    AFUAge Friendly University Programme
    BSBachelor of Business Studies
    EBCBA in Global Business (Canada)
    EBFBA in Global Business (France)
    EBGBA in Global Business (Germany)
    EBSBA in Global Business (Spain)
    EBTBA in Global Business (USA)
    EPLBA in Economics, Politics and Law
    INTBBachelor Business Studies International
    Timetable this semester: Timetable for EF113

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