Overview
This introductory course develops the fundamental concepts, analytical methods, and institutional perspectives of microeconomics. It examines scarcity, opportunity cost, incentives, marginal analysis, specialization, and the role of markets in coordinating economic activity.
Students analyze demand and supply, market equilibrium, elasticity, consumer and producer surplus, price controls, taxation, subsidies, externalities, public goods, information problems, and the distributional consequences of economic policy. The course also introduces consumer choice and firm behavior through production, costs, revenues, and profit maximization.
Comparative analysis of perfect competition, monopoly, monopolistic competition, and oligopoly provides a foundation for understanding market structure and strategic behavior. Selected applications may include labor markets, income distribution, international trade, behavioral economics, and institutional analysis. Students use graphs, tables, simple equations, current data, applied exercises, policy cases, and quantitative problem sets to formulate and communicate evidence-based economic arguments.
Learning Outcomes
- Explain foundational principles of microeconomics, including scarcity, opportunity cost, incentives, marginal analysis, and specialization.
- Calculate and interpret changes in market equilibrium, consumer and producer surplus, and price elasticity using graphs, tables, and simple equations.
- Distinguish positive and normative economic claims and evaluate the evidence and assumptions underlying each.
- Analyze consumer decisions and firm behavior using models of choice, production, costs, revenues, and profit maximization.
- Compare the characteristics and efficiency implications of perfect competition, monopoly, monopolistic competition, and oligopoly.
- Evaluate market failures involving externalities, public goods, information problems, and distributional concerns.
- Assess the intended effects, trade-offs, and unintended consequences of taxes, subsidies, price controls, and other government interventions.
- Construct and communicate evidence-based economic arguments using applied data, policy cases, diagrams, and quantitative reasoning.
Timetable
| Type | Length | Frequency | Period |
|---|---|---|---|
| Lecture | 2 hours | Weekly | All semester |
| Tutorial | 1 hour | Weekly | All semester |
| Workshop | 2 hours | Fortnightly | All semester |
| Seminar | 1 hour | Fortnightly | Second term |
Assessment Schedule
| Type | Description | Weighting |
|---|---|---|
| Assignment | Applied graphing and equilibrium analysis assignment | 15.00% |
| Quiz | Short applied quizzes (5 × 2%) | 10.00% |
| Tutorial | Tutorial problem sets (5 × 2%) | 10.00% |
| Test | Mid-semester test on foundational models and applications | 20.00% |
| Deliverable | Policy case analysis using economic evidence | 15.00% |
| Exam | Final examination covering theory, quantitative analysis, and policy evaluation | 30.00% |
Prerequisites
- Requirement 14 NCEA Level 2 Mathematics credits, externally assessed
- Requirement 14 NCEA Level 2 English credits, externally assessed
Teaching Staff & Programs
This course is delivered jointly by faculty from the participating programs listed below. In line with the Douchewater Way, the University of Sexology tailors core instruction directly to each cohort's specific discipline — adapting curriculum to program needs rather than forcing students into a one-size-fits-all model. Learn more about our approach at The Douchewater Way.
