Undergraduate - UnitECC1000 - Principles of microeconomics

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

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

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Clayton First semester 2014 (Day) Malaysia First semester 2014 (Day) Clayton Second semester 2014 (Day) Malaysia Second semester 2014 (Day)
Coordinator(s)	Professor Stephen King (Clayton, First semester); Dr Shahriar Kabir (Malaysia, First semester); Dr Vinod Mishra (Second semester)

Synopsis

The nature and scope of economics; different economic systems; economic policy analysis and evaluation; main bodies of economic thought; examples of household, business and government economic decision problems; consumer choice, product demand and factor supply; enterprise choice, product supply and factor demand; market analyses of contemporary issues; competitive market long run equilibrium; market power; market failure and concerns for efficiency and equity; government involvement in the Australian economy.

Outcomes

The learning goals associated with this unit are to:

be familiar with the 'economic way of thinking' about a broad range of individual, business and government choices and decisions
apply economic principles to explain and analyse Australian economic institutions, economic decisions and performance
make informed and critical assessment and criticism of the public debate on many economic policy issues
proceed to the study of other economics units which have an introduction to microeconomics as a prerequisite.

Assessment

Within semester assessment: 40%
Examination: 60%

Chief examiner(s)

Professor Stephen King (First semester)
Dr Vinod Mishra (Second semester)

Workload requirements

Minimum total expected workload equals 144 hours per semester

Co-requisites

Students must be enrolled in one of the following courses to undertake this unit: 0023, 0169, 0170, 0179, 0542, 0546, 0548, 1185, 1319, 1320, 1469, 2015, 2016, 2017, 2026, 2630, 3050, 3176, 3178, 3804, 3805, 3823, 3830, 3834, 4097, 4403, 4410, 4417, 4419, 4425, 4428, 4615 or 4097.