Overview
This unit develops understanding of individual decision making in consumption and production. It introduces theory of consumer choice, including applications to income-leisure choice. In the theory of production, it develops the concept of allocative efficiency and implications for input pricing. Various market structures are analysed: competition, monopoly, monopolistic competition and … For more content click the Read More button below.
Offerings
S1-01-CLAYTON-ON-CAMPUS
S2-01-CLAYTON-ON-CAMPUS
SSA-02-CLAYTON-ON-CAMPUS
Requisites
Prerequisite
Prohibition
Rules
Enrolment Rule
Contacts
Chief Examiner(s)
Professor Nicholas Feltovich
Dr Xiaodong Fan
Learning outcomes
On successful completion of this unit, you should be able to:
1.
analyse decision-making by individual consumers and producers
2.
understand decision making in game-theoretic set ups
3.
analyse price determination in product and input markets under various conditions
4.
analyse and critically evaluate policies designed to affect individual behaviour and market outcomes.
Teaching approach
Active learning
Assessment
1 - Within semester assessment
2 - Examination
Scheduled and non-scheduled teaching activities
Lectures
Tutorials
Workload requirements
Workload
Learning resources
Required resources
Other unit costs
Costs are indicative and subject to change.
Electronics, calculators and tools: $40