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

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