This unit entry is for students who completed this unit in 2016 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.

ECC1000 - Principles of microeconomics

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

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

Faculty

Business and Economics

Organisational Unit

Department of Economics

Coordinator(s)

Professor Stephen King (Clayton, First semester); Dr Shahriar Kabir (Malaysia, First semester); Dr Vinod Mishra (Second semester)

Offered

Clayton

First semester 2016 (Day)
Second semester 2016 (Day)

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%

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.

Chief examiner(s)

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