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Foundations of Microeconomics (9518.1)

Level: Undergraduate First Year Level
Credit Points: 3
HECS Bands: 2, 3
Faculty: Faculty of Business, Government & Law
Discipline: School of Government & Policy

Availability

    Unit Outlines

    To view your Unit Outline, click View to log in to MyUC and access this information, or visit your unit's online teaching site.

    • Flexible and Self Paced Period 11, 2016, SELF-PACED, BRUCE (149979) - View
    • Flexible and Self Paced Period 10, 2016, SELF-PACED, BRUCE (150165) - View
    • Flexible and Self Paced Period 9, 2016, SELF-PACED, BRUCE (150317) - View
    • Semester 2, 2016, ONLINE, BRUCE (152159) - View
    • Flexible and Self Paced Period 8, 2016, SELF-PACED, BRUCE (150468) - View
    • Flexible and Self Paced Period 7, 2016, SELF-PACED, BRUCE (150556) - View
    • Winter Term, 2016, ONLINE, BRUCE (152650) - View
    • Flexible and Self Paced Period 6, 2016, SELF-PACED, BRUCE (152802) - View
    • Flexible and Self Paced Period 5, 2016, SELF-PACED, BRUCE (152939) - View
    • Flexible and Self Paced Period 4, 2016, SELF-PACED, BRUCE (153040) - View
    • Flexible and Self Paced Period 3, 2016, SELF-PACED, BRUCE (153188) - View
    • Semester 1, 2016, ONLINE, BRUCE (154957) - View
    • Flexible and Self Paced Period 2, 2016, SELF-PACED, BRUCE (153360) - View
    • Flexible and Self Paced Period 1, 2016, SELF-PACED, BRUCE (153480) - View
    • Flexible and Self Paced Period 12, 2015, SELF-PACED, BRUCE (138386) - View
    • Summer Semester 2015/16, ONLINE, BRUCE (155418) - View
    • Flexible and Self Paced Period 11, 2015, SELF-PACED, BRUCE (138385) - View
    • Flexible and Self Paced Period 10, 2015, SELF-PACED, UC-COOMA (155939) - View
    • Flexible and Self Paced Period 10, 2015, SELF-PACED, BRUCE (138384) - View
    • Flexible and Self Paced Period 9, 2015, SELF-PACED, BRUCE (138394) - View
    • Flexible and Self Paced Period 8, 2015, SELF-PACED, BRUCE (138393) - View
    • Semester 2, 2015, ONLINE, BRUCE (146615) - View
    • Flexible and Self Paced Period 7, 2015, SELF-PACED, BRUCE (138392) - View
    • Winter Term, 2015, ONLINE, BRUCE (146616) - View
    • Flexible and Self Paced Period 6, 2015, SELF-PACED, BRUCE (138391) - View
    • Flexible and Self Paced Period 5, 2015, SELF-PACED, BRUCE (138390) - View
    • Flexible and Self Paced Period 4, 2015, SELF-PACED, BRUCE (138389) - View

    If a link to your Unit Outline is not displayed, please check back later. Unit Outlines are generally published by Week One of the relevant teaching period.

    Syllabus

    The purpose of this unit is to provide a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions that have to be made in order to manage scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, i.e. by individual consumers or individual firms, after evaluating resources, costs, and trade-offs.

    Learning Outcomes

    On successful completion of this unit, students will be able to:

    1. Think intuitively about economic problems;

    2. Identify how individual economic agents make rational choices given scarce resources and will know how to optimise the use of resources at hand;

    3. Understand some simplistic economic models related to Production, Trade, and the Circular Flow of Resources;

    4. Analyse and apply the mechanics of Supply and Demand for Individuals, Firms, and the Market;

    5. Apply the concept of Elasticity as a measure of responsiveness to various variables;

    6. Identify the characteristic differences amongst various market structures, namely, Perfectly Competitive Markets, Non-Competitive Markets, and Imperfectly Competitive Markets and understand the differences in their operation; and

    7. Analyse how the Supply and Demand technique works for the Resource Markets.

    Assessment Items

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    Contact Hours

    150 learning hours in online self-paced mode.

    Prerequisites

    None

    Corequisites

    None

    Assumed Knowledge

    None

    Incompatible Units

    6355 Introduction to Economics

    Equivalent Units

    No

    Referenced Courses



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