ECG2120

Microeconomics

(BUS)

Dr Ram Pillarisetti/Ms Judy Tennant

6 points + 2-hour lecture and 1-hour tutorial per week + Distance, approximately 12 hours per week + First semester + Gippsland + Prerequisite: ECG1101

Synopsis: The theory of consumer choice and its relationship to demand, production, costs and supply. Pricing and output decisions of firms in various market structures, including perfect competition, monopoly, monopolistic competition and oligopoly. Efficiency of resource allocation and the problems of externalities, public goods and imperfect information.

Assessment: Assignments: 30% + Examination (3 hours): 70%