COURSEWORK ASSIGNMENT

Academic Year 2022/23
Module Code: BS1197
Module Name: Principles of Microeconomics
Module Leader: Jon Guest
Task Details/Description:
You need to complete six on-lines tests using MyLab Economics. You will have
25 minutes to complete each test and question pooling is used to prevent
copying.
Instructions on how to access MyLab Economics for BS1197 are available on the
Blackboard page for the module.
The best five marks out of these six tests count towards 25% of the module mark
i.e. 5 per cent for each test.
The deadline dates and topics for the tests are as follows. Each test will be
released a week before the deadline.
- 6pm Friday 3rd February - The economic problem, opportunity cost,
rational choice, production possibility frontiers, positive vs normative
statements, Micro vs Macroeconomics
- 6pm Friday 17th February – Determinants of demand, Changes in quantity
demanded vs changes in demand, horizontal aggregation, Determinants of
supply, Change in quantity supply vs change in supply, market equilibrium,
comparative statics
- 6pm Friday 3rd March – Price elasticity of demand, cross-price elasticity of
demand, income elasticity of demand, elasticity of supply, determinants,
calculating and interpreting the figure.
- 6pm Friday 17th March – Short-run production, MPL, APL, TPP,
diminishing marginal returns, short-run cost curves, long-run production,
Isoquants, long-run cost curves.
- 6pm Friday 31st March – Market structures, profit maximisation, perfect
competition, monopoly, oligopoly, monopolistic competition, cartels, game
theory.
- 6pm Friday 21st April – Positive and negative externalities, public goods,
non-rivalry, non-excludability, club goods, common resources, the tragedy