| CODE | TEB4004 | ||||||||
| TITLE | Microeconomics for Business Educators | ||||||||
| UM LEVEL | 04 - Years 4, 5 in Modular UG or PG Cert Course | ||||||||
| EQF/MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Technology and Entrepreneurship Education | ||||||||
| DESCRIPTION | This study-unit introduces and consolidates concepts, theories and principles in microeconomics. It is intended for prospective teachers of economics to have a solid grasp of substantive and syntactic knowledge of microeconomics. Throughout the course, students are provided with the opportunity to discuss and reflect upon such topics as the nature of the economic problem, production and costs, different forms of enterprise and scale, the price mechanism, market structures, and the theory of distribution. Study-Unit Aims: The study-unit will enable students to: - Reflect upon and deepen their understanding of fundamental microeconomic concepts, theories and principles; - Enhance their financial and economic literacy and autonomy; - Start the process of developing preliminary pedagogical content knowledge relating to how to teach microeconomic content; and - Critically discuss ethical issues related to microeconomics. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Discuss the nature of the economic problem and economic systems; - Describe the topics relating to production and costs, such as the law of diminishing returns and different types of costs; - Identify the different forms of enterprise and the reasons for the differences in their scale and organisation; - Explain the factors affecting industrial location; - Discuss the determination of price in market economies; - Define elasticity; - Compare perfect competition and monopoly; - Classify the determinants of the demand for and the supply of labour; and - Discuss the role of trade unions in the labour market. 2. Skills: By the end of the study-unit the student will be able to: - Apply the appropriate theory to particular situations; - Evaluate these situations through the framework provided by microeconomic theory; - Construct demand and supply curves; - Draw short-run cost curves; - Calculate and interpret the values of elasticity of demand and supply; - Think more like an economist (Arnold, 2005); and - Assess his/her own level of financial and economic literacy. Main Text/s and any supplementary readings: Main Texts: - Anderton, A. (2008) Economics AS Level. Fifth edition. UK: Pearson Education. - Arnold, R.A. (2005) How to Think like an Economist. South-Western Cengage Learning. - Grant, S. (2003) AS Economics. Pearson Education Limited. - Moynihan, D. and Titley, B. (2007) Economics: A Complete Course for IGCSE. Oxford. |
||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
|
||||||||
| LECTURER/S | Jeffrey Magro Emanuel Mizzi |
||||||||
|
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2026/7. It may be subject to change in subsequent years. |
|||||||||