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Industries and Markets (11225.1)

Level: Level 2 - Undergraduate Intermediate Unit
Credit Points: 3
HECS Bands: 2, 3
Faculty: Faculty of Business, Government & Law
Discipline: Canberra School of Politics, Economics and Society

Availability

Unit Outlines

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  • Semester 2, 2019, ON-CAMPUS, BRUCE (184849) - View

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Syllabus

Provides students with a deeper understanding of consumer and producer behaviour in the market. Students will develop the skills to perform microeconomic policy analysis through examining several economic models that will explain and predict a wide variety of economic phenomena.

Learning Outcomes

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

1. Explain the assumptions underlying the model of consumer behaviour and analyse how consumers make optimal choices given their budget constraints;

2. Distinguish between different production functions and evaluate the optimal combination of inputs for firms given the technology of production and input cost;

3. Apply game theory methods to evaluate the strategic decision-making of different economic agents;

4. Critically evaluate how asymmetric information affects the efficiency of markets and what type of signalling mechanisms can be designed to address such issues; and

5. Reflect upon their unit experience, including theories, discussions and feedback, and how it relates to the goals set out in their professional portfolio.

Assessment Items

Contact Hours

One 2 hour lecture and one 1 hour tutorial on-campus per week.

Prerequisites

11175 Introduction to Economics.

Corequisites

None.

Assumed Knowledge

Students are expected to be familiar with microeconomic concepts covered in the pre-requisite Introduction to Economics. Students would also require some basic mathematical skills in this unit such as taking the first derivative of a function and simplifying algebra.

Incompatible Units

None.

Equivalent Units

6382 Intermediate Microeconomics and 9538 Intermediate Microeconomics.



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