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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Victorian College of Agriculture and Horticulture

791-219 Microeconomics

Credit Points:

7.5

Coordinator:

Ms R Gall

Timetable:

Semester 1

Contact:

3 hours per week

Objectives:

The objective of this subject is to enable students to:

  • understand the determinants of supply and demand and their impact on price and consumption levels;

  • understand the behaviour of firms in the market in determining outputs and prices;

  • the relationship between total average and marginal costs and the production function;

  • analyse market power and the impact of monopolies, monopsonies, oligopolies and oligopsonies;

  • understand price discrimination and its effect on the market.

Content:

The economic problem and the theory of supply and demand. The operation of the price mechanism under both perfect and imperfect competition. The theory of consumer choice and the theory of production and costs. An evaluation of microeconomic policies and their impact on the efficiency of the economy.

Assessment:

A two and a two and a half hour examination (30% and 40%); assignment of 3000 words (30%).
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Handbook 1997 : Faculty of Agriculture, Forestry and Horticulture : Victorian College of Agriculture and Horticulture 
Status:                   OFFICIAL 1997
Last Modified:            Wednesday March 12 3:36 pm
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Email Enquiries:          Course_Information@registrar.unimelb.edu.au
Copyright © University of Melbourne 1997.