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
Organisational Unit
Coordinator(s)
Dr Erte Xiao (First semester)
Dr Anmol Ratan (Second semester)
Unit guides
Synopsis
Theory of consumer choice, including applications to income-leisure choice and intertemporal consumption; isoquant theory of production; allocative efficiency and competition and monopoly; models of monopolistic competition and oligopoly; input pricing; microeconomic policies to address problems of market failure.
Outcomes
The learning goals associated with this unit are to:
- analyse decision-making by individual consumers and producers
- understand decision making in game-theoretic set ups
- analyse price determination in product and input markets under various conditions
- analyse and critically evaluate policies designed to affect individual behaviour and market outcomes.
Assessment
First semester -
Within semester assessment: 30% + Examination: 70%
Second semester -
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)
Prerequisites
ECC1000 or permission
Prohibitions
ECC5900, ECX9000