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 791-219 Microeconomics

Credit Points

7.5

Coordinator

Ms R Gall

Semester

1 and 2 (view timetable)

Contact

3 hours per week

Subject Description

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.

The content includes: 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%).

Search : Index : Institute of Land and Food Resources : Bachelor of Applied Science, Advanced Diploma of Applied Science and Diploma of Applied Science
Prev 791-218 Earth Science
Next 791-220 Project Management
 
Status:                   Official 1999
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Email Enquiries:          Course_Information@registrar.unimelb.edu.au