Monash University Handbook 2011 Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

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:

1. analyse decision-making by individual consumers and producers
2. understand decision making in game-theoretic set ups
3. analyse price determination in product and input markets under various conditions
4. 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)

Jingfeng Lu (Semester 1)
Elias Khalil (Semester 2)

Contact hours

3 hours per week

Prerequisites

ECC1000 or permission