Prof Dimitra Petropoulou

This course is compulsory on the BSc in Accounting and Finance, BSc in Actuarial Science, BSc in Actuarial Science (with a Placement Year), BSc in Economics and Data Science, BSc in Economics and Economic History, BSc in Environment and Sustainable Development with Economics, BSc in Finance, BSc in Financial Mathematics and Statistics, BSc in Geography with Economics, BSc in International Social and Public Policy with Economics, BSc in Management, BSc in Mathematics and Economics, BSc in Mathematics with Data Science, BSc in Mathematics with Economics, BSc in Mathematics, Statistics and Business, BSc in Philosophy and Economics, BSc in Philosophy, Politics and Economics, BSc in Philosophy, Politics and Economics (with a Year Abroad) and BSc in Politics and Economics. This course is available on the BA in Geography, BSc in Data Science, BSc in Economic History and Geography, BSc in Environment and Sustainable Development, BSc in Politics, BSc in Politics and International Relations, Erasmus Reciprocal Programme of Study and Exchange Programme for Students from University of California, Berkeley. This course is available with permission as an outside option to students on other programmes where regulations permit. This course is available with permission to General Course students.

Mutually exclusive courses:

This course cannot be taken with EC1A5 at any time on the same degree programme.

Additional requisites:

A-level mathematics, or equivalent.

In this course, you will learn the main building blocks of microeconomics analysis and their applications. You will study the foundations of rationality and individual decision making and learn about strategic interaction and equilibrium (game theory). You will apply these tools to understand many applications, such as how consumers behave, how companies choose their strategies and how auctions work. The course will also touch upon behavioural models and how we think about individual welfare in economics.

This course, in combination with either EC1B3 or EC1B5, exempts those who complete them from BA1 Fundamentals of Business Economics of the Chartered Institute of Management Accountants (CIMA).

This course, combined with EC1B3, contributes to the CB2 Exemption of the Institute and Faculty of Actuaries (IFoA).

20 hours of lectures and 10 hours of classes in the Autumn Term.

Weekly problem sets. Feedback will be given on two problem sets. These are in the same style as the final exam assessment.

Optional suggested further reading is listed below. Any edition of these books can be used.

• Further reading on topics: Microeconomics – Daron Acemoglu, David I. Laibson, and John A. List (note the content is also part of the textbook Economics by the same authors).
• Further readings on tools: Jacques, I. Mathematics for Economics and Business, Pearson.

Exam (90%), duration: 120 Minutes, reading time: 15 minutes in the January exam period.

Continuous assessment (10%).