CONSUMERS, FIRMS AND COMPETITION

ECO2CFC

2017

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 and either BUS1BUE or ECO1DSM

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsMicroeconomics: global ed. (8th ed.)RecommendedR. S. Pindyck & D. L. Rubinfeld (2015)Pearson

Graduate capabilities & intended learning outcomes

01. Understand and apply the theory of consumer behaviour to derive market demand both diagrammatically and mathematically

Activities:
Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
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. Understand and apply the theory of producer behaviour to derive market supply both diagrammatically and mathematically

Activities:
Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
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)

04. Derive and examine market equilibrium under different degrees of competitiveness both diagrammatically and mathematically

Activities:
Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
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)

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

Activities:
Lectures, tutorials, prescribed reading, class discussion, maths workshops run by LTLT
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

Select to view your study options…

Start date between: and    Key dates

Melbourne, 2017, 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*
Small assignments1,500 words equivalence. Online submission of selected tutorial exercises via LMS25 01, 02, 04, 05
Mid-semester test1,000 words equivalence25 01, 02, 04, 05
Final examination (2 hours)2,000 words equivalence50 01, 02, 04, 05