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

An introduction to the study of economics; consumer behaviour; demand and supply and the operation of markets; market efficiency and welfare; welfare effects of international trade; public sector economics; the behaviour of firms and the organisation of an industry; market structures -- perfect competition and monopoly; economies of the labour market.

Objectives

The learning goals associated with this unit are to:

1. understand the theoretical foundations of economics
2. understand generic skills essential for progression to upper level units by applying rigorous thinking and understanding to analytical geometric models
3. appreciate economics as an evolutionary science and its ability to address, in a microeconomic framework, the persistent social and economic problems confronted by society
4. demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Prohibitions

ECW1101