Microeconomics for Business
| Code | School | Level | Credits | Semesters |
| BUSI1108 | Nottingham University Business School | 1 | 20 | Spring Malaysia |
- Code
- BUSI1108
- School
- Nottingham University Business School
- Level
- 1
- Credits
- 20
- Semesters
- Spring Malaysia
Summary
Exchange and Trade:
• Gains from trade
• Absolute and Comparative advantage
Consumer Theory
• Indifference analysis
• Attributes approach
Intertemporal consumption
• Two-period consumption model
• Present value and its applications
Factor markets
• Labour markets
• Capital markets
Welfare Economics
• Market efficiency
• Externalities
• Public goods
• Information failure
Choice under uncertainty
• Expected utility
• Risk aversion
• Insurance
Target Students
All qualifying year Business Schoolstudents with required pre-requisite BUSI1107 Introduction to Economics. Cannotbe taken by students from the School of Economics.
Co-requisites
Modules you must take in the same academic year, or have taken in a previous year, to enrol in this module:
Classes
- One 1-hour tutorial each week for 4 weeks
- Two 2-hour lectures each week for 10 weeks
Assessment
- 100% Exam 1 (2-hour-30-minute): One 2.5-hour examination
Assessed by end of spring semester
Educational Aims
To develop an understanding of important microeconomic concepts.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
- The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial organisation and managerial economics.
- Understanding of distinctive economic theories, interpretations and modelling approaches, and their competent use.
- Economic principles and tools addressing the microeconomic issues of the production and exchange of goods.
- Economic principles and tools addressing the microeconomic issue of the relationships between principals and agents.
- Economic principles and tools addressing the microeconomic issue of economic welfare.
Intellectual skills
This module develops:
- Conceptual and critical thinking, analysis, synthesis and evaluation.
Professional practical skills
This module develops:
- The ability to apply microeconomic models to economic problems and phenomena.
Conveners
- Dr Wye Leong Roy Khong