ECF5410 - Applied microeconomics - 2017

This unit applies microeconomic principles to study how consumers and firms make decisions to achieve their goals. In particular, it analyses how firms position themselves in the market and how they form their output and price decisions on the basis of their understanding of demand and supply conditions, market structures, and strategic interaction with other firms. Finally this unit looks at particular aspects of market failure and the role of government in relation to market failure.

The learning goals associated with this unit are to:

1. upgrade the analytical and quantitative skills for microeconomics above the intermediate level
2. appreciate that microeconomic theory can be usefully applied in many facets of modern business decision making and public policy analysis
3. gain hands-on experience in the application of microeconomic principles to the analysis of a range of economic issues
4. think independently and communicate effectively.

Within semester assessment: 50% + Examination: 50%

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

Dr Zhijun Chen

ECF4100 and ECX5410