Overview

The unit introduces students to the study of economics from a microeconomic perspective. Fundamental principles of microeconomics will be applied to the analysis of consumer behaviour, demand and supply and the operation of markets, market efficiency and welfare, welfare effects of international trade, public sector economics, the behaviour of firms … For more content click the Read More button below.

Offerings

S1-01-PENINSULA-ON-CAMPUS

Contacts

Chief Examiner(s)

Associate Professor Lionel Frost

Learning outcomes

On successful completion of this unit, you should be able to:
1.

understand the theoretical foundations of economics, and the generic skills essential for progression to upper level units by applying rigorous thinking and understanding to analytical geometric models

2.

identify and explain economic systems and the concept of resource allocation, and the role of individuals and businesses in markets

3.

discuss the implementation of economic policy in a microeconomic framework, and the ability of economics as an evolutionary science to address the persistent social and economic problems confronted by society

4.

recognise regulatory and political environments and how they impact on business

5.

demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.

Assessment summary

Within semester assessment: 40% + Examination: 60%

This unit contains a hurdle requirement that you must achieve to be able to pass the unit. The consequence of not achieving a hurdle requirement is a fail grade (NH) and a maximum mark of 45 for the unit.

Workload requirements

Workload