Industries and Markets (11225.1)
|Available teaching periods||Delivery mode||Location|
|View teaching periods|| Flexible
|| UC - Canberra, Bruce
|0.125||3||Faculty Of Business, Government & Law|
|Discipline||Study level||HECS Bands|
|Canberra School Of Politics, Economics And Society||Level 2 - Undergraduate Intermediate Unit|| Band 3 2013-2020 (Expires 31 Dec 2020)
Band 4 2021 (Commenced After 1 Jan 2021)
Band 4 2021 (Commenced After 1 Jan Social Work_Exclude 0905)
Band 5 2021 (Commenced Before 1 Jan 2021)
Learning outcomesAfter 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.
Graduate attributes1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development
Prerequisites11175 Introduction to Economics.
Assumed knowledgeStudents 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.
|Year||Location||Teaching period||Teaching start date||Delivery mode||Unit convener|
|2021||UC - Canberra, Bruce||Semester 2||02 August 2021||Flexible||Dr Raymond Li|
|2022||UC - Canberra, Bruce||Semester 2||01 August 2022||Flexible||Dr Raymond Li|
In this unit, the textbook is an essential supplement to the lectures. The lectures aim at exposing students to the breadth and depth of the concepts and theories, while the textbook readings will take you into deeper discussions of those theories as well as the mathematical details. The main textbook chosen for this unit is:
Microeconomics, Australian Edition, by Jeffrey Perloff, Rhonda Smith and David Round
Below is a list of other useful (and widely adopted) references. You are strongly recommended to consult more than one text on each topic so you can see how different economists approach the same topic from different angles.
Intermediate Microeconomics, 8th Edition, by Hal. R. Varian
Microeconomics, Global Edition, 9th Edition, by Robert Pindyck and Daniel Rubinfeld
Microeconomics and Behaviour, 9th Edition, by Robert Frank
Submission of assessment items
Extensions & Late submissions
URKUND will be used to check for plagiarism for all assignments. Your assessments must be written in your words and citations used when referencing material from published sources. One URKUND preview will be available for students to check their assessment prior to submission. Students will only receive an URKUND for one draft submission of their work and again once their assessment have been formally submitted. Do not submit drafts to other Canvas sites, as this will be considered a form of self-plagiarism. Do not submit any material that has been formally submitted to other units. This is a form of academic misconduct.
Please be advised that this unit is a difficult unit with lots of mathematical application of economic concepts. Non-attendance of lectures and tutorials likely will result in students struggling with the material.
Required IT skills
Proficiency with word-processing softwares, particularly on dealing with graphing tools and mathematical functions / expressions.
Work placement, internships or practicums