Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 198)
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Year 3 Economics.
Note: Students proceeding to an honours degree in economics are required to take this subject in the third year of their course and the subject has been designed accordingly. There are, however, no restrictions on entry to the subject which all third-year economics students are welcome to take.
Credit points: 12.5
Coordinator: To be advised.
Prerequisite: 316-201 Intermediate Macro-economics and 316-202 Intermediate Micro-economics.
Contact: Two hours of lectures and one hour of tutorial each week.
Timetable: First semester
Objectives:
On completion of this subject students should be able to:
- describe the distinctive approach of economics as a method of studying consumer and firm behaviour, and market outcomes;
- formulate and solve simple optimisation problems relating to consumer and firm behaviour;
- recognise situations where economic theory can assist in understanding behaviour or in guiding decision-making, and to proceed to apply the relevant theory in an appropriate manner;
- extend their knowledge of microeconomics via independent study of theory and policy issues relating to this area;
- evaluate the limitations of existing theories in the area of microeconomics.
Content:
A more theoretical and intensive treatment of material covered in the first and second years; the consequences of individual optimising behaviour and of the nature of social equilibrium. Topics include: an introduction to constrained optimisation, consumer theory, producer theory, perfect competition and monopoly, game theory and oligopoly, behaviour under uncertainty, the economics of asymmetric information, and general equilibrium analysis.
Assessment:
A 2-hour examination (80 per cent) and class assignments totalling approximately 2,000 words (20 per cent).
Prescribed texts:
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Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 198)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: Dept. of Economics, Faculty of Economics and Commerce.
Copyright © University of Melbourne 1995,1996.