Monash University Handbook 2010 Undergraduate - Unit

Level	Undergraduate
Faculty	Faculty of Business and Economics
Offered	Berwick First semester 2010 (Day) Gippsland First semester 2010 (Day) Gippsland First semester 2010 (Off-campus) Sunway First semester 2010 (Day) South Africa First semester 2010 (Day)
Coordinator(s)	Dr Gennadi Kazakevitch

Synopsis

This unit considers market structures, conduct and performance from the business perspective; economic policy as it affects business, particularly in relation to its dealings with consumers; the variety of approaches to competition and regulation policies from the international perspective; analysis of policies with respect to prices, monopolies, oligopolies and mergers, exclusive dealing, consumer protection and licensing, deregulation and privatisation.

Objectives

The learning goals associated with this unit are to:

• recognise differences in market structures and understand how those differences affect firms' competitive behaviour and performance
• understand how and why competition causes changes in market structures by way of mergers, acquisitions, vertical integration and diversification
• explain the economic rationale for competitive weapons utilised by business in

contemporary competitive environment, such as barriers to entry, pricing and advertising strategies, product differentiation, and innovation

• explain the rationale for regulation and merits of different theories of regulation.
• explain the arguments for and against privatisation
• understand the main features of national competition policies in the countries of

particular interest to Monash University in Australia and overseas

• critically evaluate attempts to increase competition in particular industries, e.g.

aviation, electricity and telecommunications, where there are ongoing reforms.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Gennadi Kazakevitch

Contact hours

3 hours per week

Prerequisites

ECW2120 or ECW2731 or equivalent

Prohibitions

ECC3830