CONSUMERS, FIRMS AND COMPETITION

ECO2CFC

2019

Credit points: 15

Subject outline

In ECO2CFC you will build on the knowledge developed in your first year economics subjects, developing skills that are essential for undertaking applied microeconomic policy analysis in both private and public sectors.  You will focus on consumer and producer decisions using a range of approaches, considering market equilibrium under different degrees of competitiveness, including perfect competition, monopoly and oligopoly.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorBuly Cardak

Available to Study Abroad StudentsYes

Subject year levelYear Level 2 - UG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites BUS1BUE or BUS1ECW or ECO1DSM or with approval of subject coordinator.

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Graduate capabilities & intended learning outcomes

01. Apply analytical reasoning to better understand the incentives faced by individuals, firms, other non-government groups and the state.

Activities:
Lectures, in-class discussion
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. Analyse consumer, household and producer decisions focussing on relevant economic trade-offs.

Activities:
Interpretation of economic examples and data in lectures and 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)

03. Use models of consumer and producer decision-making to evaluate the welfare implications of different equilibria and develop a case for policy interventions by government.

Activities:
Discussion of tutorial problems, examples in lectures.
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, 2019, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorBuly Cardak

Class requirements

Lecture Week: 10 - 22
One 2.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Tutorial Week: 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 elementComments% ILO*
Five, Individual online quizzes (1,000 words equivalence)Online quizzes accessed via LMS25 01, 02, 03
Mid-semester test (1,000 words equivalence)Mid-semester test will include critical thinking and problem-solving exercises with a discussion component.25 01, 02, 03
Final examination (2 hours) (2,000 words equivalence)50 01, 02, 03