THE UNIVERSITY OF MANCHESTER 
ECON10171 - Principles of Microeconomic Theory 1 
Final Examination Guide and Notes 2024 
 
Part A. Revision Notes 
Part B. Sample Final Examination Paper 
Part C. Suggested Solutions to Final Exam Paper 
Part D. Final Examination - Hints and Tips 
 
The 24/7 Online Support You Deserve
Need to reach out to us with questions or for help? You’ll connect with a private tutor who is extremely passionate about the module to provide assistance and help ensure that you’re on the right track to graduating.
 
Looking for more study resources?
Find out about all the services and resources available for students at the 
University of Manchester.

University of Manchester - ECON10171: Principles of Microeconomic Theory 1

£35.00

ACADEMIC YEAR 2023 - 2024

University	University of Manchester
Study Level	Undergraduate
Unit Code	ECON10171
Unit Name	Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs
Notes Title	Final Examination Guide and Notes
Page Length	122

Reinforce and practise skills learned with step-by-step support from our best tutors in the ECON10171 - Principles of Microeconomic Theory 1: Consumers, Welfare, Production and Costs, University of Manchester to help you achieve your maximum potential. This is a complete revision guide of everything that is examinable for this course. Within this document, you will find a comprehensive evaluation of the examinable topics for the subject. Every learning outcome that can be tested is explored in depth and diagrams are provided to aid retention. You will have confidence in your study with end-of-semester exam questions and answer keys to enable you to tick off this module as you complete it, and a revision planner to help pace study.

This unit aims to provide an introduction to fundamental concepts and techniques of Microeconomic Theory, and to cover the preparatory material for more specialist courses in economics in the second and third year.

✔ Main topics covered:

Supply and Demand - Demand, Supply, Market equilibrium, Comparative statistics.
Elasticities - Price Elasticity of Demand, Other Elasticities, Applications.
Consumer Theory - Preferences, Utility, Budget Constraints, Formulation and Solution of the Consumer’s Utility Maximisation Problem.
Demand - Deriving Demand Functions, Demand Analysis, Hicks Decomposition, Expenditure Minimisation, The Slutsky Equation.
Consumer Welfare Analysis - Consumer Surplus, Compensating Variation, Equivalent Variation.
Firms and Production - Short-Run Production, Long-Run Production, Isoquants, Returns to Scale.
Costs - Short-Run Costs, Long-Run Costs, Cost Minimisation.

UNIT CODE	UNIT NAME
BMAN10101	Marketing Foundations
BMAN10501	Financial Reporting
BMAN10512	Introductory Management Accounting
BMAN10522	Financial Decision Making
BMAN20072	Investment Analysis
BMAN21011	Financial Markets and Institutions
BMAN21020	Financial Reporting and Accountability
BMAN23000	Foundations of Finance A
BMAN30091	Financial Derivatives
BMAN30111	Advanced Corporate Finance
ECON10072	Advanced Statistics
ECON10171	Microeconomic Analysis 1
ECON10181	Macroeconomic Analysis 1
ECON10221	Microeconomics 1
ECON10241	Macroeconomics 1
ECON20110	Econometrics
ECON20501	Microeconomic Analysis 3
ECON31031	Advanced Econometrics
SOST10062	Introductory Statistics for Economists

University of Manchester - ECON10171: Principles of Microeconomic Theory 1

INFORMATION

DESCRIPTION

RELATED UNITS