ECG9120

Introduction to microeconomic theory and policy

This subject covers the theory of consumer choice and its relationship to demand, production, costs and supply. It looks at pricing and output decisions of firms in various market structures, including perfect competition, monopoly, monopolistic competition and oligopoly. The subject considers the issue of efficiency from the regional perspective, or resource allocation and the problems of externalities, public goods and imperfect information. Contemporary microeconomic policy, issues from the regional perspective are especially emphasised.

Back to the 1999 Distance Education Handbook