Postgraduate - UnitBEX5650 - Microeconomic theory

This unit entry is for students who completed this unit in 2015 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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0 points, SCA Band 3, 0.000 EFTSL

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

Level	Postgraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Clayton Second semester 2015 (Day)
Coordinator(s)	Professor Jeffrey LaFrance

Synopsis

Neoclassical theories of demand, supply, and equilibrium at a level that permits rigorous analysis. Introduction to game theory. Topics include the existence theorem of utility functions, properties of demand and supply functions, existence and Pareto optimality of competitive equilibrium, and various equilibrium concepts of non-cooperative games.

Outcomes

The learning goals associated with this unit are to:

deepen understanding of microeconomic analysis acquired during undergraduate training
undertake rigorous analysis of microeconomic issues, including the determinants of relative prices and their effects on resource allocation
learn some more advanced analyses going beyond the traditional model and taking account of some real-world complications
acquire proficiency in handling optimisation problems and have a basic understanding of general equilibrium analysis.

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload equals 144 hours per semester.

Chief examiner(s)

Professor Jeffrey LaFrance

Co-requisites

Students must be enrolled in course code 3194 to undertake this unit.

Prohibitions

ECC5650