Intermediate Microeconomics (6382.4)

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Unit Outlines

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• Semester 1, 2018, ON-CAMPUS, BRUCE (177853) - View
• Semester 1, 2017, ON-CAMPUS, BRUCE (166793) - View
• Semester 1, 2016, ON-CAMPUS, BRUCE (153815) - View
• Semester 1, 2015, ON-CAMPUS, BRUCE (145987) - View

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Syllabus

This unit will focus on the development and application of microeconomic principles. The theoretical component will consolidate and extend the material presented in first year, covering the areas of consumer and producer behaviour in competitive and non-competitive environments, market failure and the role of government; industry structure, conduct and performance.

Learning Outcomes

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

1. Explain the basic assumptions underlying the model of consumer behaviour;

2. Analyse how consumers make an optimal choice given the budget constraint they face;

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

4. Evaluate the strategic decision making by different economic agents using game theory; and

5. Understand how asymmetric information in a market affects efficiency.

Assessment Items

Contact Hours

Normally thirty nine hours per semester.

Prerequisites

6355 Introduction to Economics OR 9518 Foundations of Microeconomics

Incompatible Units

9538 Intermediate Microeconomics

Equivalent Units

9538 Intermediate Microeconomics