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

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:

1. recognise differences in market structures and understand how those differences affect firms' competitive behaviour and performance
2. understand how and why competition causes changes in market structures by way of mergers, acquisitions, vertical integration and diversification
3. 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
4. explain the rationale for regulation and merits of different theories of regulation.
5. explain the arguments for and against privatisation
6. understand the main features of national competition policies in the countries of particular interest to Monash University in Australia and overseas
7. critically evaluate attempts to increase competition in particular industries, e.g. aviation, electricity and telecommunications, where there are ongoing reforms.
8. 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%

Prerequisites

Students must have passed one of the following: ECW2120, ECW2731 or ECG2731 before undertaking this unit.

Prohibitions

ECC3830, ECW3830