eco1dsm microeconomics 1
DEMAND, SUPPLY AND MARKETS
ECO1DSM
2015
Credit points: 15
Subject outline
This subject focuses on the behaviour of consumers and firms and their interaction in markets. It introduces students to the economic way of thinking, to the study of consumer and firm behaviour in competitive markets. Then issues of market failure associated with public goods and externalities are introduced along with theories of imperfect competition, business strategy and game theory. Emphasis is placed on markets for inputs such as labour. Microeconomic policies to address market failures are discussed.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorYu-Chien Kong
Available to Study Abroad StudentsYes
Subject year levelYear Level 1 - UG
Exchange StudentsYes
Subject particulars
Subject rules
PrerequisitesN/A
Co-requisitesN/A
Incompatible subjects ECO1PPA, ECO1IMI, BUS1BUE
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Principles of Microeconomics | Prescribed | Gans, J., King, S. & Mankiw, N. (2009) | 4TH EDN., NELSON |
Graduate capabilities & intended learning outcomes
01. Upon successful completion of this subject, you should be able to critically reflect on, and apply microeconomic theory to, the concept of market failure and various policy contexts.
- Activities:
- TBC
- Related graduate capabilities and elements:
- Critical Thinking(Critical Thinking)
- Inquiry/ Research(Inquiry/ Research)
- Creative Problem-solving(Creative Problem-solving)
02. Upon successful completion of this subject, you should be able to differentiate between market structures, identify their defining characteristics, and discuss their implications for efficiency.
- Activities:
- TBC
- Related graduate capabilities and elements:
- Inquiry/ Research(Inquiry/ Research)
- Critical Thinking(Critical Thinking)
- Creative Problem-solving(Creative Problem-solving)
03. Upon successful completion of this subject, you should be able to engage in class discussions and use teamwork in a problem solving setting.
- Activities:
- TBC
- Related graduate capabilities and elements:
- Inquiry/ Research(Inquiry/ Research)
- Creative Problem-solving(Creative Problem-solving)
- Critical Thinking(Critical Thinking)
04. Upon successful completion of this subject, you should be able to explain market behaviour in writing and graphically, using the partial equilibrium model of supply and demand
- Activities:
- TBC
- Related graduate capabilities and elements:
- Inquiry/ Research(Inquiry/ Research)
- Creative Problem-solving(Creative Problem-solving)
- Critical Thinking(Critical Thinking)
05. Upon successful completion of this subject, you should be able to explain various economic concepts and apply these to economic problems using correct economic terminology and appropriate diagrammatic representations.
- Activities:
- TBC
- Related graduate capabilities and elements:
- Creative Problem-solving(Creative Problem-solving)
- Inquiry/ Research(Inquiry/ Research)
- Critical Thinking(Critical Thinking)
Subject options
Select to view your study options…
Melbourne, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorYu-Chien Kong
Class requirements
LectureWeek: 10 - 22
Two 1.0 hours lecture per week from week 10 to week 22 and delivered via face-to-face.
TutorialWeek: 10 - 22
One 1.0 hours tutorial per week from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| 1-hour mid-semester test | 20 | 01, 02, 03, 04, 05 | |
| Tutorial performance | 10 | 01, 02, 03, 04, 05 | |
| one 2-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 50 | 01, 02, 03, 04, 05 |
| one application test | 20 | 01, 02, 03, 04, 05 |
Melbourne, 2015, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorPeter Sivey
Class requirements
LectureWeek: 31 - 43
Two 1.0 hours lecture per week from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 31 - 43
One 1.0 hours tutorial per week from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| 1-hour mid-semester test | 20 | 01, 02, 03, 04, 05 | |
| Tutorial performance | 10 | 01, 02, 03, 04, 05 | |
| one 2-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 50 | 01, 02, 03, 04, 05 |
| one application test | 20 | 01, 02, 03, 04, 05 |
Other Site, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorPeter Sivey
Class requirements
LectureWeek: 10 - 22
Two 1.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
TutorialWeek: 10 - 22
One 1.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| 1-hour mid-semester test | 20 | 01, 02, 03, 04, 05 | |
| Tutorial performance | 10 | 01, 02, 03, 04, 05 | |
| one 2-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 50 | 01, 02, 03, 04, 05 |
| one application test | 20 | 01, 02, 03, 04, 05 |