Faculty of Business and Economics

Monash University

Undergraduate - Unit

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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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.

FacultyFaculty of Business and Economics
Organisational UnitDepartment of Economics
OfferedSouth Africa Second semester 2015 (Day)
South Africa Summer semester B 2015 (Day)
Coordinator(s)Dr Tendeukayi Mugadza


This unit reviews the contemporary microeconomic principles. Consumer and producer theory focusing on individual consumers and firms, market processes, demand patterns, cost structures, market conditions, pricing policies, and the impact of regulation on business decisions are discussed. Cases and problems from the prescribed text, South African media, and online resources illustrate how economic concepts can be applied to specific industries. Analytical techniques and quantitative tools link the concepts to measurement and decision-making.


The learning goals associated with this unit are to:

  1. understand how markets work
  2. understand how customers value products
  3. understand which production and cost measures are relevant for decision making
  4. understand how competition affects business decisions on investment, production, and pricing in different market structures
  5. understand how changes in foreign exchange rates, technology, incomes, government regulations, sources of energy, the balance of payments impact on decision making.


Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information

Chief examiner(s)