Intermediate Microeconomics (6382.4)
Please note these are the 2016 details for this unit
| Available teaching periods | Delivery mode | Location |
|---|---|---|
| View teaching periods | ||
| EFTSL | Credit points | Faculty |
| 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 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) |
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.
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.
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
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.
Graduate attributes
1. UC graduates are professional - communicate effectively1. 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
Prerequisites
6355 Introduction to Economics OR 9518 Foundations of MicroeconomicsCorequisites
None.Incompatible units
9538 Intermediate MicroeconomicsEquivalent units
9538 Intermediate MicroeconomicsAssumed knowledge
None.| Year | Location | Teaching period | Teaching start date | Delivery mode | Unit convener |
|---|
Not available
Required texts
Required text: Pindyck R. and Rubinfeld, D. (2017) Microeconomics 9th ed., Prentice Hall, New Jersey. (This is available for purchase at the co-op bookshop).
Additional references
Frank, Robert H. (2008) Microeconomics and Behaviour, 7th ed. McGraw-Hill/Irwin.
Borland, Jeff (2012) Microeconomics: Case Studies and Applications, Cengage Learning, South Melbourne.
Participation requirements
Please be advised that this unit is a difficult unit with lots of mathematical application of economic concepts. Non-attendance of lectures and tutorials will result in students struggling with the material.
Required IT skills
None
Work placement, internships or practicums
None
