eco2cfc microeconomics 2
CONSUMERS, FIRMS AND COMPETITION
ECO2CFC
2017
Credit points: 15
Subject outline
In this subject, you will study theories of consumer behaviour and producer behaviour to deepen your understanding of market demand and market supply. You will examine market equilibrium under different degrees of competitiveness, namely, perfect competition, monopoly and oligopoly. Through lectures, tutorials and homework, you will enhance your economic knowledge from your first-year economics subjects by learning how to model economic trade-offs with diagrammatic and mathematical methods. You will acquire skills that are essential for undertaking microeconomic policy analysis in both private and public sectors.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorYuji Tamura
Available to Study Abroad StudentsYes
Subject year levelYear Level 2 - UG
Exchange StudentsYes
Subject particulars
Subject rules
Prerequisites ECO2IQA and either BUS1BUE or ECO1DSM
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Microeconomics: global ed. (8th ed.) | Recommended | R. S. Pindyck & D. L. Rubinfeld (2015) | Pearson |
Graduate capabilities & intended learning outcomes
01. Understand and apply the theory of consumer behaviour to derive market demand both diagrammatically and mathematically
- Activities:
- Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
02. Understand and apply the theory of producer behaviour to derive market supply both diagrammatically and mathematically
- Activities:
- Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
04. Derive and examine market equilibrium under different degrees of competitiveness both diagrammatically and mathematically
- Activities:
- Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
05. Apply diagrammatic and mathematical methods to analyse welfare consequences of government interventions
- Activities:
- Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
Subject options
Select to view your study options…
Melbourne, 2017, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorYuji Tamura
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 32 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 32 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Small assignments | 1,500 words equivalence. Online submission of selected tutorial exercises via LMS | 25 | 01, 02, 04, 05 |
| Mid-semester test | 1,000 words equivalence | 25 | 01, 02, 04, 05 |
| Final examination (2 hours) | 2,000 words equivalence | 50 | 01, 02, 04, 05 |