Master the basic knowledge of economics and establish a good and solid knowledge background.

Analysis

To systematically master the basic theory of microeconomics and understand the law of microeconomic operation.

Enquiry & Analysis

Cultivate and improve students' ability to correctly analyse microeconomic phenomena and problems.

Knowledge & Understanding; Learning, Application

Student Engagement and Participation 20% - Assess performance of students in each class includes the accuracy and depth of questioning and answering questions, interaction and cooperation with classmates, and active participation in classroom activities.



Mid-term Exam 10% - Mid-term exam calculated based on the score on the paper

Class Tests 10% - The main assessment is the degree to which students learn, review, understand, and master the knowledge points of each class.

Homework 10% - According to homework completion and submission.

Final Exam 50% - The main assessment includes demand, supply and equilibrium prices, consumer choices, enterprise production and costs, perfectly competitive markets, imperfectly competitive markets, factor markets and income distribution, and general equilibrium and efficiency market failures. 50% of the exam score will be included in the total module grade. The examination questions are: Single choice question, short answer questions, graphic questions, calculation questions, comprehensive analysis questions. LO: 1, 2, & 3

Western economics (microeconomics part) is our institution of finance and economics and management professional module, mainly study the family, manufacturers and market how the rational allocation of economic resources, with a single economic unit of economic behaviour as the object, with the rational allocation of resources to solve the main problems, the price theory as the centre, including price theory, consumer behaviour theory, producer behaviour theory, market theory, distribution theory and market failure and micro economic policy. This module aims to introduce the basic theories and methods of microeconomics, aiming to train students to establish an economic thinking mode to explain the world around us and guide our daily decision-making. Including:



Demand, Supply and Equilibrium Price; Consumer Choice; Uncertainty and risks; Enterprise Production and Cost; Fully competitive market; Incompletely competitive market; enterprise demand curve, market balance and economic efficiency of the monopolistic competitive market; Market of factors of production and income distribution; Understand the general equilibrium structure and fair social standards of Vallas; Market Failure and Microeconomic Policy.

Western economics (microeconomics part) is our institution of finance and economics and management professional module, mainly study the family, manufacturers and market how the rational allocation of economic resources, with a single economic unit of economic behaviour as the object, with the rational allocation of resources to solve the main problems, the price theory as the centre, including price theory, consumer behaviour theory, producer behaviour theory, market theory, distribution theory and market failure and micro economic policy.

The learning strategy for the module requires students to commit 100 learning hours (including assessment) of which there will be 24 hours of tutor-led learning and 76 hours of independent and self-directed study.



Adopting heuristic, discussion based, and case analysis teaching methods, fully utilizing modern teaching methods such as multimedia, optimizing the teaching process and content as a whole, and mobilizing students' learning enthusiasm. Implementing the principle of combining theory and practice, teaching with a certain amount of exercises and discussion classes, providing students with a certain amount of thinking questions and exercises, and requiring them to complete a certain amount of homework to improve their in-depth understanding of the basic concepts of microeconomics modules. Combining analysis and summary, combining macro teaching with micro analysis, timely summarizing the teaching content, conducting in-depth analysis of key content, making it easy to understand and gradually progressing.

Writing Group of "Western Economics". Volume 1 of "Western Economics" (Second Edition). Higher Education Press, Second Edition, 2019.



Reference Materials:

Edited by Gao Hongye, "Western Economics (Micro Part)" (Sixth Edition), published by Renmin University Press of China, 2018.



Edited by Mankun, Principles of Economics (Microeconomics Volume), Peking University Press, 2006