316-202 Intermediate Microeconomics

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

316-102 Introductory Microeconomics.

This subject examines the development of the microeconomic theory of the behaviour of economic agents and how the behaviour of economic agents and government influence the efficiency of the economy. Topics include perfect competition, general equilibrium, market power, intertemporal decision making, decision making under uncertainty and imperfect information.

• High level of development: oral communication; written communication; collaborative learning; problem solving; team work; application of theory to practice; interpretation and analysis; critical thinking.

• Moderate level of development: synthesis of data and other information; evaluation of data and other information; receptiveness to alternative ideas.

• Some level of development: statistical reasoning.

A 2-hour end-of-semester examination (60% or 70%), an optional mid-semester multiple choice test (0% or 10%), an in-course assignment of up to 2000 words (20%), and tutorial attendance and participation (10%). The final mark will be calculated by weighting the end-of-semester exam at 60% and the mid-semester test at 10% OR by weighting the end-of-semester exam at 70% and the mid-semester test at 0%, whichever gives the higher mark.