17 July 2020
Principles of Microeconomics
This module provides an introduction to the concepts that underlie modern economic analysis.
The module begins with the concept of opportunity cost, proceeding to optimal decision-making at the level of an individual consumer.
Similar analysis will be applied to describe the optimal behaviour of an individual firm, distinguishing competitive and non-competitive market structures. The theoretical coverage will be supplemented with real-world examples, including a visit to the London Metal Exchange, where students will observe a live application of the theoretical concepts.
Dr. Dunli Li is a Teaching Fellow in the Department of Economics at UCL and a Fellow of Higher Education Academy (HEA) in the UK. She received her Ph.D. from the US and has extensive teaching experience at undergraduate and postgraduate levels from both t
This is a level one module (equivalent to first year undergraduate). Students who have completed micro- or macroeconomics courses at introductory level or higher, cannot take this module.
There are no specific requirements involving prior mathematical knowledge but students should be comfortable drawing and manipulating diagrams to support their arguments.
Upon successful completion of this module, students will:
Be familiar with the basic microeconomic concepts;
Have gained the ability to apply basic microeconomic concepts to analyse behaviour of consumers and firms under several market structures;
Have an understanding of the price mechanism, its limitations, and factors influencing the market price;
Have gained the ability to analyse the impact of government intervention on efficiency and distribution of surplus.
7.5 ECTS / 4 US / 0.5 UCL
GBP 2100: Students joining us for six weeks (two modules) will receive a tuition fee discount.
GBP 1100: UCL offers accommodation in a vibrant area in the heart of London which costs approx. £1100 per 3-week Session.