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.
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Co-requisites
Students must be enrolled in course 3194.
Synopsis
Neoclassical theories of demand, supply, and equilibrium at a level that permits rigorous analysis. Topics include the existence theorem of utility functions, properties of demand and supply functions, dynamic choice for producers and consumers, risk and uncertainty in competitive markets, and the existence and optimality of competitive equilibrium.
Outcomes
The learning goals associated with this unit are to:
- deepen understanding of microeconomic analysis acquired during undergraduate training
- undertake rigorous analysis of microeconomic issues, including the determinants of relative prices and their effects on resource allocation
- learn some more advanced analyses going beyond the traditional model and taking account of some real-world complications
- acquire proficiency in handling optimisation problems and have a basic understanding of general equilibrium analysis.
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.
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