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Understand the economic behaviour of individual consumers and producers

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  • Post Date 2018-11-10T11:36:08+00:00
  • Post Category Assignment

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Understand the economic behaviour of individual consumers and producers

ECF1100 - Microeconomics
Synopsis

Economics as an area of knowledge. Economics in a business degree. Understanding economic policy. An analysis of markets: supply
and demand; consumer behaviour; firm behaviour; cost of production and profit maximisation; behaviour of firms in different market 
structures; evaluation of market capitalist economic systems, economic efficiency, market failure, government failure; current economic
policies, competition policy, privatisation and the funding of education.

Objectives

The learning goals associated with this unit are to:

understand the economic behaviour of individual consumers and producers

understand concepts relating to the cost of production in both the short and long run

explain the determinants of price and output outcomes under different market structures in both the short and long run and the
welfare implications of these outcomes

describe the virtues and shortcomings of free markets

have knowledge of remedies to overcome market failure.

Price: £ 79

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