Intermediate Microeconomics

Course code ECON2001
Available in 2015
2015 Course Timetables

Description

This course builds on the microeconomic principles studied in the first year by extending students' knowledge and understanding of microeconomic phenomena and the environment within which consumers, firms, businesses and governments operate. The course provides microeconomic principles that can be applied to improve managerial decision making and the formulation of an effective public policy to improve the welfare of the citizenry. Topics include making choices under uncertainty, industry structures, markets for factors of production, firm strategy, organisational architecture or systems, market failure, regulation and firm governance. The course helps students to develop a critical thinking ability and a mastery of the theoretical and analytical tools as well as their application for solving real world microeconomic problems, thereby providing a basis for more specialised study of third year economics.

Availability

Callaghan Campus

  • Semester 1 - 2015

Learning Outcomes

1. Critically assess traditional approaches to consumer, producer and market structure theories and have insights into alternate perspectives.

2. Apply microeconomic concepts to inform business decisions and governance in the workplace and develop an appreciation of synergies with other disciplines in the business faculty.

3. Demonstrate a proficiency in utilising numerical and graphical techniques.

4. Work collaboratively when communicating microeconomic principles and their applications.

5. Apply microeconomic theory to explain and inform real world economic events and debates.

6. Comprehend how economics can be utilised to improve business competitiveness through strategic industry decisions and internal firm architecture.

Content

This course may include but is not limited to the following topics:
 

  1. Markets and information.
  2. Market demand and production costs.
  3. Market structure and product pricing.
  4. Economics of firm strategy.
  5. Game theory and incentive contracts.
  6. The Labour market.
  7. Vertical integration and outsourcing.
  8. Firm architecture and evaluation.
  9. Internal governance in the firm.
  10. Government regulation and the firm

Assumed Knowledge

ECON1001

Assessment Items

Presentation: Tutorial Exercises with Group Presentation

In Term Test: Class Test

Formal Examination: Formal Exam

Contact Hours

Lecture

Face to Face On Campus 2 hour(s) per Week for Full Term

Tutorial

Face to Face On Campus 1 hour(s) per Week for Full Term