Monash University Handbook 2010 Undergraduate - Unit

Synopsis

Theory of consumer choice, including applications to income-leisure choice and intertemporal consumption; isoquant theory of production; allocative efficiency and competition and monopoly; models of monopolistic competition and oligopoly; input pricing; microeconomic policies to address problems of market failure.

Objectives

The learning goals associated with this unit are to:

• analyse decision-making by individual consumers and producers
• understand decision making in game-theoretic set ups
• analyse price determination in product and input markets under various conditions
• analyse and critically evaluate policies designed to affect individual behaviour and market outcomes.

Assessment

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

Chief examiner(s)

Dyuti Banerjee

Contact hours

3 hours per week

Prerequisites

ECC1000 or permission

Prohibitions

ECC2000, ECC9000