ECB1101 - Introductory microeconomics

Overview

The unit introduces you 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.

The unit introduces you 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 and the organisation of an industry, and market structures. This unit also discusses the reasons for economic regulation and competition policy.

Offerings

S1-01-PENINSULA-ON-CAMPUS

Requisites

Prohibition

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Dr Jackie So

Notes

Optional Peer Assisted Study Sessions (PASS) run in this unit.

Learning outcomes

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

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

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

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

recognise regulatory and political environments and how they impact on business

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

Teaching approach

Active learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Seminars

Workshops

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.