CONSUMERS, FIRMS AND COMPETITION

ECO2CFC

2018

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 or ECO1DSM

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditions Core subject in the Economics Major

Graduate capabilities & intended learning outcomes

01. Understand and apply the theories of consumer and producer behaviours to derive market demand and supply diagrammatically and mathematically

Activities:
Lectures, homework
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. Derive and examine market equilibrium under different degrees of competitiveness both diagrammatically and mathematically

Activities:
Tutorials, Assessment tasks
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)

03. Apply diagrammatic and mathematical methods to analyse welfare consequences of government interventions

Activities:
Lectures, Tutorials
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

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Start date between: and    Key dates

Melbourne, 2018, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorYuji Tamura

Class requirements

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
Five, Individual small assignments (1,500 words equivalence)Online submission of selected tutorial exercises via LMS25 01, 02, 03
Mid-semester test (1,000 words equivalence)25 01, 02, 03
Final examination (2 hours) (2,000 words equivalence)50 01, 02, 03