Industries and Markets (11225.1)
|Level:||Level 2 - Undergraduate Intermediate Unit|
|HECS Bands:||2, 3|
|Faculty:||Faculty of Business, Government & Law|
|Discipline:||Canberra School of Politics, Economics and Society|
UC - Canberra, Bruce
Year Teaching Period Convener Mode of Delivery 2020 Semester 2 DR Raymond LI (Ph: +61 2 62015211 ) ON-CAMPUS
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- Semester 2, 2019, ON-CAMPUS, BRUCE (184849) - View
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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.
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.
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