Microeconomics for Business

• Credit value: 15 credits at Level 4
• Convenor and tutor: Federica Rossi
• Assessment: a mid-term test (30%) and a two-hour examination (70%)

Microeconomics for Business covers basic microeconomics concepts and models: demand, supply and market equilibrium; production and costs; perfect competition, monopolistic competition, monopoly and oligopoly; market failures. Real-world examples and practical applications/worked-out problems are used to illustrate these concepts and demonstrate their relevance for business decisions.

Indicative module syllabus

• Demand and supply curves, demand and supply shifters
• Market equilibrium analysis
• Demand and supply elasticity
• Productivity and returns to scale
• Costs and economies of scale
• Perfect competition
• Monopoly and monopolistic competition
• Oligopoly
• Examples of market failures

By the end of this module, you will be able to:

• explain several key microeconomic concepts and their general relevance in order to support business decisions
• identify the kind of business decisions to which those concepts could be applied
• demonstrate widely transferable analytical and critical thinking skills.