Microeconomics for Business

• Credit value: 15 credits at Level 4
• Convenor and tutor: Dr Federica Rossi
• Assessment: a two-hour examination (100%)

In this module we cover basic microeconomics concepts and models. Real-world examples and practical applications/worked-out problems are used to illustrate concepts and demonstrate their relevance for business decisions.

Indicative 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.