Microeconomic Principles II

This information is for the 2020/21 session.

Teacher responsible

Prof Frank Cowell 32L3.25A and Dr Andrew Ellis 32L3.15


This course is compulsory on the BSc in Econometrics and Mathematical Economics. This course is available on the BSc in Business Mathematics and Statistics, BSc in Economic History with Economics, BSc in Economics, BSc in Economics and Economic History, BSc in Economics with Economic History, BSc in Finance, BSc in Mathematics and Economics, BSc in Mathematics with Economics, BSc in Mathematics, Statistics and Business, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics, BSc in Politics and Economics, Diploma in Accounting and Finance and MSc in Economics (2 Year Programme). This course is available as an outside option to students on other programmes where regulations permit. This course is available with permission to General Course students.


Students must have a suitable economics background: for those other than General Course students and 2-year MSc  students, this means that they must have completed either Economics A (EC100) or Economics B (EC102). In addition, students must have a suitable mathematical background: students who have thoroughly mastered mathematics to the level of Quantitative Methods (Mathematics) (MA107) should be able to follow the course, but would find it difficult. Mathematical Methods (MA100) would give a better grounding.

Course content

This is an intermediate course in microeconomic analysis. Topics covered include Producer Theory, Consumer Theory, General Equilibrium, the Economics of Uncertainty, Welfare Economics and Game Theory, with applications to oligopoly, auctions, moral hazard, and adverse selection. A greater mathematical facility will be assumed of the student, permitting both greater depth and a number of additional topics than Microeconomic Principles I to be covered.  Further details are available on


20 hours of lectures and 10 hours of classes in the MT. 20 hours of lectures and 10 hours of classes in the LT.

This course is delivered through a combination of classes and lectures totalling a minimum of 60 hours across Michaelmas Term and Lent Term. This year, some or all of this teaching will be delivered through a combination of virtual classes, live streamed (recorded) lectures, and some flipped content delivered as short online videos.

Formative coursework

Students are urged to attempt the assigned problems before attending classes. At least four pieces of written work will be required and marked by class teachers.

Indicative reading

The text for the course is Cowell, F.A. (2018) Microeconomics: Principles and Analysis (second edition), Oxford University Press, Oxford. Additional readings to complement the lecture notes on specific topics from other books or articles will be indicated as needed.


Exam (22.5%, duration: 1 hour, reading time: 15 minutes) in the January exam period.
Exam (67.5%, duration: 3 hours, reading time: 15 minutes) in the summer exam period.
Coursework (10%) in the MT and LT.

10% course engagement, assessed on submitted coursework and, where relevant, class presentations.

The Lent term examination is based 100% on the Michaelmas term syllabus, and the Summer exam on 33% of the Lent term syllabus and 67% of the Lent term syllabus.


Important information in response to COVID-19

Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: Economics

Total students 2019/20: 117

Average class size 2019/20: 15

Capped 2019/20: No

Value: One Unit

Guidelines for interpreting course guide information