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Handbook 1997 : Faculty of Economics and Commerce : Economics

316-202 Intermediate Microeconomics

Note:

316-202 Intermediate Microeconomics and 316-201 Intermediate Macroeconomics together form the second-year component of a specialisation in Economics.

Coordinator:

Assoc. Professor P Bardsley

Prerequisite/s:

316-102 Introductory Microeconomics.

Timetable:

Semester 1

Contact:

Two 1-hour lectures and a 1-hour tutorial a week

Objectives:

On completion of this subject students should:

  • understand the scope and limitations of consumer and producer theory;

  • be able to solve economic models which involve optimisation;

  • appreciate the role of value judgements in economics;

  • understand the conditions required for Pareto efficiency in exchange, production and in the composition of output;

  • be able to critically evaluate arguments for government intervention;

  • understand the interdependence of economic subjects within a general equilibrium framework;

  • understand the basic characteristics of public choice mechanisms.

Content:

Intermediate-level microeconomics. Development of the microeconomic theory of the behaviour of economic agents. Understanding how the behaviour of economic agents influences the efficiency of the economy. The problems of market failure such as externalities and public goods.

Assessment:

A 2-hour end-of-semester examination, an optional a mid-semester multiple choice test and tutorial attendance and participation. The final mark will be calculated by weighting the end-of-semester exam at 70% the mid-semester test at 20% and the tutorial mark at 10% OR by weighting the end-of-semester exam at 90% and the tutorial mark at 10%, whichever gives the highest mark.

Prescribed Texts:

  • Mansfield E, Microeconomics, 8th ed., Norton.
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Handbook 1997 : Faculty of Economics and Commerce : Economics 
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.