6 points, SCA Band 3, 0.125 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Dr Erte Xiao (First semester)
Dr Anmol Ratan (Second semester)
- First semester 2017 (Day)
- Second semester 2017 (Day)
The behaviour of the economy is the result of a host of decisions made each day by millions of people. Prices and markets play a crucial role in economic behaviour, creating a system in which actions of individuals, guided by self-interest and without any central co-ordination or planning, create wealth for society as a whole. How individual workers, households and firms make decisions, and how they interact with each other, is the subject of microeconomics.
The learning goals associated with this unit are to:
- understand how markets work, and how prices work to allocate resources
- understand the basic principles of how people make economic decisions, how they interact economically, and how the economy as a whole works
- understand the role of public policy, and the constraints on its operation, when markets fail
- understand how firms are organised and make decisions
- have developed learning skills and begun to acquire the techniques of thinking like an economist
- have sufficient grounding to attempt advanced studies in microeconomics in subsequent years.
First semester -
Within semester assessment: 30% + Examination: 70%
Second semester -
Within semester assessment: 40% + Examination: 60%
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
Off-campus attendance requirements
3 hours per week
ECC2000, ETC2000, ECX9000